KCN has outperfomed based on what grounds?
The 2020 Financial report showed a pre-tax loss for the Group before significant items of $24.2million and they have 2 mines that are not making any income.
So the price increase of KCN in my opionion was based on pure speculation that the TAFTA result would come in, traders got involved and pushed up the share price.
Based on your chart, KCN looks like it's heading back down to meet the other 3 companies you have mentioned when their share price was trading on a similar pattern in July.
If that's the case, the Bell Direct technical analysis I posted could be right on the money as to where the KCN share price could be heading.
Strong Bearish Chart signal, page-7
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Last
$1.07 |
Change
0.050(4.90%) |
Mkt cap ! $242.0M | |||
| Open | High | Low | Value | Volume |
| $1.00 | $1.07 | $1.00 | $704.2K | 674.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $1.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.07 | 83299 | 3 |
View Market Depth
| Last trade - 16.10pm 22/01/2021 (20 minute delay) ? |
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Last
$1.05 |
Change
0.050 ( 3.96 %) |
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| Open | High | Low | Volume | ||
| $1.04 | $1.07 | $1.02 | 117343 | ||
| Last updated 15.53pm 22/01/2021 (live) ? | |||||
| KCN (ASX) Chart |