We have a descending wedge squeezing into a point, strong Friday AH volume, Oversold RSI popping out of the downward trend, MACD turning positive, price sitting on the original investment price for the IPOC spac, large short interest, earnings on Monday and the Clover Assistant technology showcase Tuesday. If there was ever a recipe for a short squeeze, this is...
Double Bottom on the 15Min, .50 Fib support on the daily, oversold conditions, falling wedge... looks like a reversal in the works!
Here is a possible plan for our KRR breakout that has just formed. With a trailing PE of 8, a forward PE of somewhere around 4-5, plus all of the potential news in the pipeline, gold and GDXJ ready for a reversal, KRR is due for a rerating to the upside. Also phases of the moon for good measure. Gold tends to start rallying on a full moon.
With the full moon coming monday, looks like things are turning around for the JR miners. Bear trap resolving and ready for launch.
Next Full Moon Nov 30th, so get your buys ready for a big green day.