Rhaegar25 Apr 2013 10:55
I don't think this SP is not a bargain.
52 Week low 191, 52 week high 895
Let me re-post what I had posted yesterday on Riddler's GC page and add some
According to Ichimoku there is always an equilibrium between the SP, Tenken Sen & Kijun Sen.
As per ichimoku the sp is way way off the Tenken sen, and kijun Sen
The SP = 188, Tenken Sen = 243, Kijun Sen = 282
Variance from Tenken Sen = 30%, Variance from Kijun Sen = 50%
The usual variance of Price from Tenken Sen is usually less than 10% and Kijun Sen is about 15%
Whenever such a wide variance is there there is always a very sharp unexpected price correction and the price heads to the Tenken Sen to restore the balance
If you recall, this happened in TALV some time back, the same thing happened in NYO yesterday. Where I had calculated similar variances.
I have seen massive correction rallies of shares which have been dropped far too much.
TSX was up 14.1% yesterday.
This was dropped to 2.68 Canadian on 17 April.
KGI in Toranto climbed back from the drop every day and reached 3.23
That is a 20.5% climb in just 4 trading days, and most of it was yesterday.
KGI here was dropped to 187.5 on the 17 April.
Yesterday we closed at 187.7 and we have not seen the correction yet.
There will be at least a 20+ % correction from 187.5 that is 225 at the very least Plus another bounce up since all Gold miners are flying today.
In addition many are not aware that KGI is a Lower cost higher quality Gold PRODUCER not an Explorer.
Since their mining is in Canada and it's spring now after a record breaking long winter they are not constrained by the weather to produce more Gold now
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