The price is condensing just under the key resistance. We know how that ends right? The price will probably explode higher soon.
Once that happens, KCS could rally all the way to $14 where profit taking would be a good idea in case the market decides to reverse again.
The indicators are also curving up, but we don't have a bullish cross yet. Probably a break of the key resistance is needed first. That should bring enough momentum.
Volume is still lacking, but that as well can improve soon.
Other than that, the market sentiment is turning a bit bullish lately and a relief rally could be had. Relief rallies can still be quite strong even if we are in a bear market.
Bias is bullish on this, but best to wait for the breakout first.
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Once that happens, KCS could rally all the way to $14 where profit taking would be a good idea in case the market decides to reverse again.
The indicators are also curving up, but we don't have a bullish cross yet. Probably a break of the key resistance is needed first. That should bring enough momentum.
Volume is still lacking, but that as well can improve soon.
Other than that, the market sentiment is turning a bit bullish lately and a relief rally could be had. Relief rallies can still be quite strong even if we are in a bear market.
Bias is bullish on this, but best to wait for the breakout first.
Like and follow if you liked my idea!
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