K is a long term investor's dream as the stock continues to be in an bigger uptrend (despite that it has it's fair share of volatility).
For the past 2 months, the stock has gone into a cup consolidation and finally broke up last Friday, probably in anticipation of earnngs that is expected out on 3 Nov (BMO).
We do not know if this breakup is for real but should there be any near term pullback below the neckline, then I would be watching for a possible "handle" (higher low) which could make the case for a solid cup and handle formation,
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
For the past 2 months, the stock has gone into a cup consolidation and finally broke up last Friday, probably in anticipation of earnngs that is expected out on 3 Nov (BMO).
We do not know if this breakup is for real but should there be any near term pullback below the neckline, then I would be watching for a possible "handle" (higher low) which could make the case for a solid cup and handle formation,
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!