Masterlu, Intermediate and long term charts below. Of course charts need fundamentals to illustrate so, as usual, I agree with your viewpoint. They also illustrate anticipation of and reaction to news and PR's (or lack thereof). With the disclaimer that fundamentals are not reflected by price lately, here is what I see. KMAG hit a split adjusted price of appx. $1.35 in 2007 when the share structure was about 175 mil. That SS is about 1/3 of the current SS of 609 mil. One third of the 2007 price is about 45 cents! Coincidentally, that is a resistance level and near a support/resistance level of .60 on the long term chart (green line). So if fundamentals and public perception cause a replay the 2007 price move to $1.35, a 60 cent price is a conceivable objective based on past price performance and the current OS. ..eventually. Again the technical analysis only corroborates fundamentals. Using the same thinking we could expect resistance at just above .10, at .20 and between .45 and .50. These are long term projections! Notice that anything below .05 is just random noise on the long term chart. So, intermediate term- On the next chart, yes, there is danger of a washout to major support in the .0025 area (green line). On the upside there are resistance levels all the way to .01 (blue lines), then intermediate term resistance just over .02 and at .034. (red lines). For me, sometimes the big picture puts day to day drama, hyperbole and disappointment in perspective.
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