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Sell by date expired?

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Not applicable
The consensus forecast for KIO has been a 'sell' since 16 Feb '09. The price has risen from 162.00 to a high of 280.00, reached on 21 Sept '09. After a slight retracement the price seems to be surging ahead; iron ore prices, along with demand,seem to be on the rise again,yet the recommendation is stuck on 'sell'. My question is whether how much,if any,importance should be placed on such recommendations?
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6 REPLIES 6
Not applicable
*$%@ all, IMO. Its a great stock, although it is in a bit of an ambush zone technically. It has bounced hard, but is now in a 50-50 situation. Here is a tip for you - keep up to date on the Grindrod announcements, they will tell you straight away what is happening in the ironore industry since they ship the stuff.
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Not applicable
Thanks tjopper,i'm up to date with most announcements re iron ore,just wanted clarity on the consensus recommendation issue.Should be an interesting stock to watch.
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sasa
Regular Contributor
I've just realised a 6.9% profit by buying last week at an interim resistance level of around R221, and then my trailing stop loss kicked in this morning. Did I get out too early...??
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jack12
Super Contributor
imo yes resistance is at 251
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DR_1
Super Contributor
last year everyone had the opposite view. strange how we percieve an increase when govts are still pumping the billions to sustain economines, US deficit almost equal to GDP and unemployment poised to rise to 13% by next year...recovery ???
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Kipper
Contributor
Yeah, resistance at just over 25000, but not impossible is a breakthrough resistance to 29000 plus. Thoughts?
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