Following a severe bearish trend since mid-November that resulted in a 40% loss, Kodak share (KODK) is currently traded within a horizontal channel. Furthermore, KODK share is traded below the short and long term EMAs.
If KODK share breaks below the previous channel, as indicated by the Fibonacci circle and Fibonacci extensions, the red colored area between 2.48-2.22 could be a feasible target in the following days.
A break up above the channel, on the other hand, suggests that the three-bottoms pattern is still intact, and the 3.44-3.77 levels are the next targets.
If KODK share breaks below the previous channel, as indicated by the Fibonacci circle and Fibonacci extensions, the red colored area between 2.48-2.22 could be a feasible target in the following days.
A break up above the channel, on the other hand, suggests that the three-bottoms pattern is still intact, and the 3.44-3.77 levels are the next targets.