KBE ( in top of ascending channel ) is ready to short
KBE on the one-hour chart has been in a rising parallel channel for a month. It is now near the
the top of the channel having pivoted within the past few trading sessions. The MACD which is
no lag shows a line cross above the histogram while the RSI is topped out as it was on May 23rd
the most recent previous pivot downward. I see this as a short setup. The stop loss is at
the recent pivot high while the target is $35.15 at the bottom of the channel and somewhat
confluent with the POC line of the volume profile which is a natural bounce and reversal
value. I would also short the banks by going long on BNKD which adds the extra risk and
potential reward of leverage ( see that idea)
the top of the channel having pivoted within the past few trading sessions. The MACD which is
no lag shows a line cross above the histogram while the RSI is topped out as it was on May 23rd
the most recent previous pivot downward. I see this as a short setup. The stop loss is at
the recent pivot high while the target is $35.15 at the bottom of the channel and somewhat
confluent with the POC line of the volume profile which is a natural bounce and reversal
value. I would also short the banks by going long on BNKD which adds the extra risk and
potential reward of leverage ( see that idea)