Technical analysis on KATXDrawing to the close of its custodianship, Kat Exploration Inc (OTC: KATX) has been building on anticipation for the termination of its custodianship – currently schedule for May 11th. Following the release of its quarterly and annual reports, KATX stock saw a roughly 458% run over two weeks. Now, investors are waiting on impending merger news for this clean shell.
KATX stock is currently trading at $.0058 – near its resistance at .006. Meanwhile it shows a support at .005 and a secondary support at .0045. The MACD is bullish while the RSI moves up from 51.08. Accumulation has been holding steady following KATX’s run up.
Given its impending catalyst, bullish investors could potentially add shares near $.005 as anticipation builds for the custodianship termination on May 11th. But KATX stock is likely one to watch beyond that for news of its merger. With a market cap of $10.4 million, the stock could be cheap at these levels depending on the merging company.
