As KNC continues in freefall after breaking through its first support, it won't be long until it reaches the strong lower support. As indicated historically using a combination of the Stochastic RSI and BB normalized RSI, when both indicators agree, a rally quickly follows right after. This being the case once more, and now displaying a descending triangle, a breakout is likely to happen soon. Buying right above the support is ideal, assuming it holds after being tested. Trade cautiously friends!
Comment:
Interestingly, KNC inches closer to the tip of the triangle without any signs of breaking out... yet. We must be patient.
Trade active:
Now is a good time to buy, support holding fast.
Comment:
We've gone down under, but hope remains! I'm in for the long run.