Kibo Energy

Update

What is next??

This is an update to the first article on the stock :https://finmeup.app/post/9012a6de-7040-48fe-b5f3-dcb238333a68

The Stock has finally reached our anticipated support as previously discussed. Kibo Energy tested a session low of R0.04/share on Monday 26 September 2022. It is  is currently presenting another buying opportunity for traders. Kibo is extremely cheap at these levels in my opinion and it is presenting less odds of further downside. The worst and highly unlikely scenario would be a trade to R0.01/share, this will be a drawback of approximately 70% from current price of R0,04. THIS IS THE RISK ON THE TRADE.

Price taget

My target price on the stock is R0.24 and this is based on the previous high reached in August 2022. A trade from current price to the target price will return approximately 500% in capital gain. However, Penny-stocks are extremely illiquid, you may not secure a whole 500% due to wider spread caused by illiquidity. 

Disclaimer: None of the information shared above constitute financial advise. The information shared is just a true reflection of the author's opinion and experience. Seek financial advice from a registered financial advisor.