Sober wrote:and why the rise in NIC? i bet the reason is simple..Volumes. with smaller volumes, a stock can rally because it just takes a few orders or one big match for that to happen, we tend to be pegged so much on the prices, me included.
Note, there has been a huge purchase order through Kestrel and African Alliance from a few foreign investors. For those purchase orders that went through, the price is now heading to Suguta Valley. Those whose purchase order had not been completed, the trend is towards Mt Elgon. Factor in these foreigners were counting on Kenya getting 25 billion dollars without much hustle. However, the rider of hiking interest rates to 16% was the killer blow. Investors know the consequence of that IMF condition while speculators are running all over selling and buying.
Sober, once the large NIC order is satisfied, the share will come down to under 30 again.
Wisdom to detect when share prices hit rock bottom.
When interest on bonds keep going up, you know the bear run is on high street. When interest on bonds start leveling, the bear has met the bull and they have hit rock bottom. When the interest rates on bonds start coming down, the bull has overpowered the bear and you better be riding the bull.