ValueTheMarkets last covered Kennedy Ventures (LSE:KENV) in February when it was back from suspension. The company has since completed its name change to Kazera Global (LSE:KZG) and is focussing on its Namibia assets. In an exclusive interview with us back in November, CEO Larry Johnson said he was ‘perplexed at the company’s share price performance over 2017’.
After a brief bounce at the beginning of the year to take on resistance at 5p, the shares again find themselves back at 4p today. For those interested in the development of the story this could prove a good opportunity for entry or accumulation. From a technical analysis perspective, I’m immediately drawn to the gap down from 8p. Despite there being no logical reason for it to do so it’s often the case a share price will return to an area to ‘fill the gap’. One of the mysteries of trading! Another feature of the chart I like is the cone-shaped price action over the past 3-4 years indicating, at least from a technical aspect, impressive long-term price targets.
Author: Stuart Langelaan
Disclosure: The author of this piece does not own shares in the company mentioned