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KGNX has finally done the heavy lifting it takes to find a floor here around $0.17.
The price action has come back to a nice sharp point, which signals a base for the next round of action.
And if that round goes to the upside like the news flow suggests, there’s almost ENDLESS sky here to capture:
Even in the nightmare months of the correction, KGNX managed to show a little 40% to 60% fire now and then. A taste of what it can really do?
Now however, the action has tapered to barely $0.01 separating the current price from BREAKOUT position!
MACD is on the edge and can go either way, which isn’t surprising. RSI ditto.
I mentioned the news flow because KGNX has a dynamite product on store shelves . . . when it isn’t selling out Costco in a matter of HOURS.
Face creams made with gold and formulated to tighten skin, prevent wrinkling and repair natural collagen. Every woman’s DREAM.
Naturally this stuff isn’t cheap. KGNX sells its gold-enhanced lip gloss for about $100 per OUNCE and I think that’s a deep dot-com discount.
This is a product for the bold and the beautiful, which is why KGNX focuses its early marketing in billionaire havens like Kuwait and Beverly Hills.
But when KGNX throws a few bottles to middle-class stores like Costco, it sells out almost immediately, so the demand is clearly there.
The commercials are running now to boost awareness! My guess is that KGNX is ramping up for a HUGE luxury holiday season.
And every bottle it sold last quarter earned a 60% gross p-p-ROFIT! It doesn’t take a lot of scale here to turn Wall Street’s head!
I could talk a lot more about the market, but you know rich women. They want to stay beautiful and will pay through the nose to do it.
And the science here is apparently impeccable, but we don’t need to know how KGNX gold cream works. This guy already went into the details.
We’re traders, not cosmetologists! And I see one hell of a trade here now that KGNX has gotten its “beauty sleep” and is ready to rise and SHINE!
Bottom Line: If KGNX is truly in breakout position, the upside potential is practically obscene. Just touching the October high is double digits away.
The 200-day trend is literally OFF THE CHART so a “reversion to mean” from here would earn a vast pile of percentage points.
I don’t know where KGNX goes today or tomorrow. All I know is that this tiny titan looks eager to make its next big move.
And hey, even the intraday leaps here have added up to serious thrills. KGNX doesn’t have to break out to count as a win today!
But wouldn’t it be NICE?
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