KNOS looks about a week ahead of LSL. A clear double bottom has formed around 700p, providing a solid base for the current move. The price has already punched through overhead resistance at 800p with a visible increase in volume, effort and result are in total agreement.
Friday’s price action was a classic bullish engulfing pattern, closing near the daily high. These signals are high-conviction for me, as they show buyers have completely overwhelmed the previous day’s supply.
We could encounter some resistance around 920p, but if it pushes through that, a return to the recent highs would offer an attractive gain.
Price target: 1180p
Potential reward: 34%
Friday’s price action was a classic bullish engulfing pattern, closing near the daily high. These signals are high-conviction for me, as they show buyers have completely overwhelmed the previous day’s supply.
We could encounter some resistance around 920p, but if it pushes through that, a return to the recent highs would offer an attractive gain.
Price target: 1180p
Potential reward: 34%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.