KAT Exploration Inc Looking bullish again

KAT Exploration Inc today showed a sign of strength once again and bounced off the very critical .11 cents range showing renewed demand for this gold penny stock.

At this point it looks like KAT Exploration Inc has passed the test of holding key support at .11 cents.  I mentioned before about how important that level was to hold to keep the overall chart structure intact.

The good news now is that if KATX can get a breakout going topside out of this large descending wedge it could lead to a test of the highs near .24 cents and maybe beyond.

The volume ticked up nicely today as well.  The daily MACD histogram looks bullish and the WEEKLY MACD histogram will flash a buy signal if we can get a close above this weeks closing weekly high.  This would be a potentially very important weekly buy signal if it is confirmed next week.

This gold penny stock is a typical well behaving penny stock that has decent liquidity to trade just like regular stocks.  Still, it is important to consider that as of this writing KATX has not actually achieve a topside breakthrough of that red dotted down trend line.  This means that it still has important work to do to prove itself.

But so far so good.  KATX holders should be pleased that this penny stock has been able to hold .11 so far which was definitely not a given in this risky sector.

Pennystocks penny stocks first mentioned KATX way back at around 5 cents.  We also recently mentioned the gold and uranium penny stock LBSR at around 3 cents.  Clearly penny mining stocks are the place to be right now in the overall penny stock sector. . .