Can $KGJI be the girls’ best friend?

Why not?

Kingold Jewelry, Inc. ($KGJI) engages in the design, manufacture, and sale of gold jewelry, ornaments, and investment-oriented products in the People’s Republic of China (the PRC). It provides a range of gold products, including gold necklaces, rings, earrings, bracelets, pendants, and gold bars. The company sells its products under the Kingold brand name directly to retailers, distributors, and wholesalers covering 25 provinces and municipalities in the PRC. Kingold Jewelry, Inc. was founded in 2002 and is headquartered in Wuhan, the People’s Republic of China.

Although I am late to the party, I don’t think the run is over yet.

Take a look at the daily chart:

KGJI_daily

Yesterday, price had a correction to the downside but was stopped by the support of the daily 5 SMA.  With the 15 SMA right below the 5 SMA and both are still heading upward in direction, I took today as an opportunity to initiate position looking for trend continuation.

Take a look at the weekly chart:

KGJI_weekly

Price action has taken out both the 79 SMA and the 89 XMA with the 5 and 15 SMAs pointing upward.  There may be a long-term bull run here.  

My 2 cents.

 



Categories: KGJI

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