Why did I say so?
1) Kpower has been on a downtrend since early Jan 2021. At the current period, it has already been bearish for 3 months. The pattern shows a falling wedge and typically, a falling wedge may last up to 3 to 6 months. What does this indicate? A falling wedge in an uptrend is indicating a bullish sign soon.
2) MACD is slowly and may show bullish divergence soon.
3) RSI is definitely almost oversold. THE current RSI value is at 30%.
4) Last traded BUY volume is higher than the previous day's SELL volume.
5) Last traded candlestick has engulfed the previous day's candlestick. Hence, a bullish engulfment has been formed.
So, let's hope and pray that Kpower may rebound soon.!
1) Kpower has been on a downtrend since early Jan 2021. At the current period, it has already been bearish for 3 months. The pattern shows a falling wedge and typically, a falling wedge may last up to 3 to 6 months. What does this indicate? A falling wedge in an uptrend is indicating a bullish sign soon.
2) MACD is slowly and may show bullish divergence soon.
3) RSI is definitely almost oversold. THE current RSI value is at 30%.
4) Last traded BUY volume is higher than the previous day's SELL volume.
5) Last traded candlestick has engulfed the previous day's candlestick. Hence, a bullish engulfment has been formed.
So, let's hope and pray that Kpower may rebound soon.!