#FTSE #DOW It was a surprise to discover, in addition to oil wealth, Saudi Arabia may also enjoy reserves of Gold, Silver, Copper, and Zinc. Kefi Minerals, mainly focused on Ethiopian reserves, jumped across the Red Sea in 2019 to explore a few locations in Saudi. What really caught our eye was their baseline cost around $900 per ounce, on a day when GOLD finally exceeded the $2,000 benchmark!
Kefi share price, trading around 1.8p at time of writing, is starting to show some reasonable potentials. In the event of the price next exceeding 1.88p, we’re looking for price recovery to an initial 2.51p with secondary, if exceeded, at 3.17p. Either one of these numbers represents a surprising gain from the current share level. Historically, the adjust price has traded substantially higher than currently and the visuals suggest CLOSURE above 4p shall be regarded as game changing for the longer term. We mention this as, should 3.17 somehow be exceeded, we can calculate a third target level of 4.1p…
For it all to go horribly wrong, the price needs slip below 1p, retreating below the level of the Blue downtrend since 2016. We feel sufficient early warning shall be given, if any excuse is discovered to take the share below 1.5 as this threatens an initial 1.2 with secondary, if broken, down at 0.98p and real trouble.
It’s an interesting share and doubtless worth some investigation.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
4/08/2020 FTSE Closed at 6036 points. Change of 0.07%. Total value traded through LSE was: £ 5,055,051,224 a change of 18.31%
3/08/2020 FTSE Closed at 6032 points. Change of 2.29%. Total value traded through LSE was: £ 4,272,722,908 a change of -22.49%
31/07/2020 FTSE Closed at 5897 points. Change of -1.54%. Total value traded through LSE was: £ 5,512,609,995 a change of 17.63%
30/07/2020 FTSE Closed at 5989 points. Change of -2.32%. Total value traded through LSE was: £ 4,686,446,061 a change of 8.2%
29/07/2020 FTSE Closed at 6131 points. Change of 0.03%. Total value traded through LSE was: £ 4,331,168,852 a change of 8.86%
28/07/2020 FTSE Closed at 6129 points. Change of 0.41%. Total value traded through LSE was: £ 3,978,793,130 a change of -6.88%
27/07/2020 FTSE Closed at 6104 points. Change of -0.31%. Total value traded through LSE was: £ 4,272,805,133 a change of 6.51%
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