I usually reserve a comment like the one I used in my title for a stock that just fell off the cliff. One that I had told my readers about in advance. KATX, however, is just the opposite. I've been bringing KATX to my readers the last few months. Watching paint dry has been more exciting then watching KATX trade recently, but I just knew it was going to break out and today it finally did.
Just last week I stated:
KATX: I still feel KATX is on the brink of a breakout. A 20-30% break higher is coming and coming soon. That will confirm my short term $.10 target.
I also drew up a fancy chart to validate my view:
You could have been buying up shares at $.05 to $.06 since February in anticipation of KATX's next leg up. The one the Guru has seen coming for some time.
Today KATX closed at $.0675,up 20%, on breakout volume.
My target remains $.10, but that is just my first target. If this is indeed the next leg up I think we break into new highs and could see SRSR type numbers, meaning $.15 - $.20 a share. That represents a 200-300% gain from today's close.
Let's not get ahead of ourselves just yet. First we need to see $.10, which we should in short order.
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