$KR inverse H&S breakout on the daily chart #stock #trading
$KR stock price has been forming a beautiful clean inverse H&S pattern on the daily chart since MAR'19 earnings result gap down
The pattern has a clean cut shoulder line at around 23.70 and head line at 20.70 / neckline sits at 26.10
Stock has broken the neckline on big volume 2 days ago ( on good numbers regarding same stores sales ) and yesterday started what will be most probably the retest of the neckline
MACD very supportive on both daily and weekly charts / RSI at 65 now on daily / 61 on weekly so there is some room to still go up, but that is also why I think we will see a pull back
Look for retest AND SUPPORT at the neckline in order to participate ( keep an eye especially on the WEEKLY close)
Measured target stands at 31.50
Good luck,
TA
The pattern has a clean cut shoulder line at around 23.70 and head line at 20.70 / neckline sits at 26.10
Stock has broken the neckline on big volume 2 days ago ( on good numbers regarding same stores sales ) and yesterday started what will be most probably the retest of the neckline
MACD very supportive on both daily and weekly charts / RSI at 65 now on daily / 61 on weekly so there is some room to still go up, but that is also why I think we will see a pull back
Look for retest AND SUPPORT at the neckline in order to participate ( keep an eye especially on the WEEKLY close)
Measured target stands at 31.50
Good luck,
TA
Trade closed: target reached:
Target reached
Congrats longs
TA
Congrats longs
TA