KRONO - Gaining strength, back on track.
Following the review I wrote on Krono (Nov 2), the V bottom pattern and the good earnings of the company gave me a reason to believe that the price should be gaining on with some momentum. The technical indicators are showing MACD bullish crossover and RSI breaking the 50% mark.
Link (Nov 2) -
On the Nov 2 post, the price of support given was 0.605, while the resistance levels are 0.66 and 0.72-0.725.
The following day, price dropped a little to 0.63-0.635 , giving a safe risk ratio for an entry with the risk of 2.5-3 cents.
Today, Nov 8, Krono reached a high of 0.71, therefore recorded a gain of 12% within 3 trading days.
From this point, based on technical analysis of Krono, there are a few points to take note;
1. Current Key Fibonacci Resistance Level = 0.71 - 0.72, if the price would break and stay above this level, the next target will be 0.765 and 0.80 - 0.82
subsequently.
2. The price hasn't break the downtrend line (refer to chart), therefore there is a chance that the price might end up in a sideway swing.
3. However, since the candlesticks have turned away from yellow which indicated that the price has the potential to further uptrend.
4. Current support stands at 0.66 - 0.67 and the last support is 0.605.
This sharing has been designed for informational and educational purposes only and does not constitute opinion of whether to buy or sell any security which may be referenced upon this sharing. The services and information provided through this site are for personal, non-commercial, educational use and display. There are substantial risks in stock trading and therefore all investors are advised to conduct their own independent research or seek professional investment advice into individual stocks before making a purchase decision. Cheers
Link (Nov 2) -
On the Nov 2 post, the price of support given was 0.605, while the resistance levels are 0.66 and 0.72-0.725.
The following day, price dropped a little to 0.63-0.635 , giving a safe risk ratio for an entry with the risk of 2.5-3 cents.
Today, Nov 8, Krono reached a high of 0.71, therefore recorded a gain of 12% within 3 trading days.
From this point, based on technical analysis of Krono, there are a few points to take note;
1. Current Key Fibonacci Resistance Level = 0.71 - 0.72, if the price would break and stay above this level, the next target will be 0.765 and 0.80 - 0.82
subsequently.
2. The price hasn't break the downtrend line (refer to chart), therefore there is a chance that the price might end up in a sideway swing.
3. However, since the candlesticks have turned away from yellow which indicated that the price has the potential to further uptrend.
4. Current support stands at 0.66 - 0.67 and the last support is 0.605.
This sharing has been designed for informational and educational purposes only and does not constitute opinion of whether to buy or sell any security which may be referenced upon this sharing. The services and information provided through this site are for personal, non-commercial, educational use and display. There are substantial risks in stock trading and therefore all investors are advised to conduct their own independent research or seek professional investment advice into individual stocks before making a purchase decision. Cheers
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.