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Message: interesting technical picture

interesting technical picture

posted on Feb 04, 2010 12:14AM

Well, here we are testing new lows. Technicals aren't the be all and end all in an exploration stock, I know, but I think we are at a bit of an interesting spot. We undercut the old 52 wk low just a bit, on rising volume. Higher volume than the day before (another down day), which was higher than the day before. Technically, I think that is a bit of a sign of not much under us to hold us up. However, in a true double bottom (I believe) the second low must undercut the first low (4 wks ago or so), and we are doing that. SO... the technical buy point would be about 58 cents, with another good time to jump on being about 70 cents. Of course, if it does go to .70, right here is a nice place to start.

HOwever, if the floor doesn't hold here...

Seems odd to talk about hoping KXL breaks through to 70 cents.

My inspiration is from cheap whiskey after curling, not top notch microbrewery beer, so take it for what it's worth.

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