KDR 0.00% $1.90 kidman resources limited

Just going through and checking the charts of the stocks on my...

  1. 1,213 Posts.
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    Just going through and checking the charts of the stocks on my watch list.  The chart for KDR is showing a high probability of a trend change to up confirmation.  See daily chart below.

    KDR-20181116-MMA.png   

    In summary:

    The high volume Close at 133c didn’t provide support for the current retrace, but the Low of that bar at 119c may have been the level we should have focused on.
    The SP today bounced off the 121c level which very close to that 119c level and is the level of the previous Inverted H&S neckline, and is the current level of the blue (Investor) MMAs.  A retrace of the SP back to the longest period blue (Investor) MMA and then a rebound is a common patter to watch for in an SP undergoing a trend change.
    Combined with the above, the Volume on the previous impulse move up was increasing and the Volume on the retrace has been falling, see arrows on the chart.

    If the SP can bounce up strongly from the 120c level the next impulse move could take the SP back up to the 200c level.  A failure of this pattern setup would be signalled by a drop of the SP below the 119c level.

    I’m still waiting for new long trade signal, and hoping it isn’t too far away.
    All IMO of course – good luck everyone.
 
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Currently unlisted public company.

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