The point and figure chart for KXL
moved as of Friday to an extremely bullish configuration. It is "Ascending Triple Top Breakout",
definition
doesn't hurt.
It suggests that 1) key players (Richardson etc) have narrowed the float a lot, 2) lots of short covering going on, few shares available to do it with 3) sentiment is strong. Could be prelude to a PR move.
It's not nice that the drills will shut down for a while, but we all knew that was coming. It's likely we will still get some results before the New Year.
I fully expect the stock to bobble around a bit - the shorts must be plenty unhappy now, so they may place a huge block of shares in the asks. I'll bet on it. But, there is a lot of strength in the chart.
