KAS has recently broken through the daily descending resistance line established in March, indicating potential for further upside. Currently, it's near a support area, presenting a favorable setup for a long trade.
Trade Details:
Entry Zone: Ladder into a long spot trade between $0.125 and $0.13.
Take Profit Targets:
First Target: $0.1480 - $0.1550
Second Target: $0.176 - $0.1850
Stop Loss: Just below $0.12
Trade Rationale:
Resistance Breakout: Breaking through the long-standing resistance line suggests bullish momentum.
Support Area: Current support zone between $0.125 and $0.13 offers a low-risk entry point.
Conclusion:
This setup takes advantage of the recent breakout and proximity to support, allowing for a strategic long position with defined profit targets and risk management through a stop loss just below $0.12.
Trade Details:
Entry Zone: Ladder into a long spot trade between $0.125 and $0.13.
Take Profit Targets:
First Target: $0.1480 - $0.1550
Second Target: $0.176 - $0.1850
Stop Loss: Just below $0.12
Trade Rationale:
Resistance Breakout: Breaking through the long-standing resistance line suggests bullish momentum.
Support Area: Current support zone between $0.125 and $0.13 offers a low-risk entry point.
Conclusion:
This setup takes advantage of the recent breakout and proximity to support, allowing for a strategic long position with defined profit targets and risk management through a stop loss just below $0.12.