KKR is in presence of a rising wedge pattern. The upper trendline of the pattern has been hit for the 3rd time and a short is the best thing we can do.
Comments
EugeneGuinn
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I don't understand why you would short the stock.
AlexandreFF
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Because you have an upper trendline acting as a resistance, it's a rising wedge pattern the stock trades between the two trendlines until it breaks the lower one.
EugeneGuinn
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Thanks for the explanation. I am very new to technical analysis. Do you use any additional information to estimate the direction of the stock or do you use only the chart?