KKD is currently breaking out of a 3-month long symmetrical triangle.
The downward-sloping red trendline has been tested twice (at points B & D.) And has finally broken out on 1/22. Once again, I am not seeing the spike in volume that I am looking for. However, the red trendline was decisively broken. According to the triangle measuring technique, the maximum profit target is 2.85 points above the triangle. Although, there appears to be some resistance @ $21.20, which may halt the advance for a short amount of time.
Summary
Pattern: Symmetrical Triangle
Price target(s): $21.2, $22.5 (max)
Stop-loss: $19.10 (apex of triangle)
The downward-sloping red trendline has been tested twice (at points B & D.) And has finally broken out on 1/22. Once again, I am not seeing the spike in volume that I am looking for. However, the red trendline was decisively broken. According to the triangle measuring technique, the maximum profit target is 2.85 points above the triangle. Although, there appears to be some resistance @ $21.20, which may halt the advance for a short amount of time.
Summary
Pattern: Symmetrical Triangle
Price target(s): $21.2, $22.5 (max)
Stop-loss: $19.10 (apex of triangle)
