- Summary:
- Kodal Minerals Share Price Forecast will flip very bearish if the price gains acceptance below 0.60p. This will put a retest of 0.35p on the cards.
Kodal Minerals (LON: KOD) share price has started to show weakness despite strength in FTSE 100 index. The shares of the Lithium-focused minerals explorer are struggling to gain strength above their 2017 peak. Consequently, the stock is trading 43% below its yearly peak.
In the past few days, shares of the major UK-listed companies have rebounded strongly. As a result, the FTSE 100 index is once again trading above $7,650 points. Its highest level since June 16. Kodal Minerals shares rose 4.96% on Thursday but remain 9.84% down for the week.
Individual Investors Own 51% Of Kodal Minerals Stock
According to the latest data, individual investors are the biggest shareholder of Kodal Minerals plc. These individual investors collectively own 51% shares of the company. This makes them the biggest group to have influence on the company decisions. Furthermore, the top 25 shareholders hold 48% shares.
Institutions also control a large sum of the shares. A recent report puts their collective stake at 32%. This data shows that the top 25 individual shareholders have a lot of influence on the company. These investors also have the ability to affect Kodal Minerals share price.
Kodal Minerals Share Price Stands At Critical Point
As discussed in my last week’s analysis, LON: KOD needs to flip the 0.60p level into support to aim for more upside. This level was a 2017 peak and was only breached in April 2023. However, despite a breakout, the price couldn’t gain any strength above this level.
Kodal Minerals share price forecast will flip bearish if the stock gets acceptance below the $0.60 level. The first major target for the bears seems to be the 0.35p support which is 37% below the current price. The broader market sentiment in the UK will also play a key role along with the upcoming decisions of BOE.
In the meantime, I’ll keep sharing the updated Kodal Minerals forecast and my personal trades on my Twitter where you are welcome to follow me.
