Possible will touch bottom trend line before another run.EMA 34 on the way and may also bounce from there. It's still in the consolidation zone, bullish main and inner trend, gap filled at 14.98.
KDNC trade ideas
Cadence penny stock longscoming to the end of a long term down trend and now positioning for longs.
0,25 entry...
KDNC - PLAYING THE LONG GAMEThe recent push up and test of the significant pivot at 0.50 was a welcome bit of positivity in what looks like a relentless downtrend.
The longer this deterioration persists the more people leave and use their money elsewhere, so the recent push up on UK electric car commitments seemed to do the trick.
However, 0.50 needs to be broken, my original plan to watch and see this level broken convincingly will signal a strong upward move, until then we are passengers.
Hold the faith, lots in the bag.
KDNC - The Hype vs The TechnicalsKDNC has all the "hype" potential with none of current technical's to support it.
The company has lots of support in followers and lots of shares in circulation all chasing the next big thing - Lithium boom.
With great reserves and vested interests the company is in a good place except for cash flow, it doesn't own anything.
So - Look for big moves up after news, from my point of view it needs to clear the 0.60 level convincingly, then wait for shallow pull backs and play harmonics to next level at 0.88.
NOTE: - This is not a system or pattern trade but rather speculative making use of human behavior to realize moves in price.
