Kongsberg Automotive
Short Term
We look to Buy at 2.29 (stop at 2.19)
We look to buy dips. Choppy price action seen. Previous support located at 2.30. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 2.62 and 2.91
Resistance: 2.80 / 2.93 / 3.30
Support: 2.30 / 2.00 / 1.35
...
Seems we have finalized wave 2 now with a 61.8% retracement from the top of wave 1
Seems bullish. Either with a standard pitchfork or a Shiff. With the standard pitchfork this is extremely bulllish for the rest of this year. With Shiff it will take a few years to complete the impulse
Remember there is always a bearish and a bullish count
On a weekly chart, 20EMA Crossed 50 EMA, possible retest of 50 EMA @ 2.72 or 2.36 NOK and then it will head towards Monthly 20 EMA Also where a Yearly Pivot is located @ 5.2 to 5.5 NOK
Fib taken from Previous low to High, Rising Channel broken, Price measurement of channel is calculated from Channel broken, which is showing a possible price fall upto 0.618 FIb @ 2.36 NOK. Although 2.72 NOK is a strong support, possible bounce at 2.72 if not 2.36 should hold the price.
This is not a trading advice, just for information Purpose.
After hitting base support established 2008 and 2011-12 in 2020; it's now looking like KOA might break out of downward trend it's been in since Jan 2018.
Let's see if it can break the purple line and find support on it, 60% gains possible then (Fat red resistance line). If it breaks the fat red line, who knows how high we can go.
If it bounces of the purple and find support on the blue one's 160-280 % gains. Just see where it finds support before buying.
I bought already on 0.28 NOK (bullish rsi on daily chart)...
