mario-623

KING RIVER - UPDATE - BUY ZONE APPROACHING- POTENTIAL +15%

ASX:KRC   None
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As noted in my previous analysis on the 26th September, KRC failed to close above $0.064 on the monthly and is on the way to test the intra-week lows of $0.044-$0.037.

IF these areas hold, this month ill be looking to scale my buys in between $0.044-$0.037.
Overall the R/R trade is appealing.

Over the next 3 weeks, for the price to have any hope of going up I'd expect that strong support area to hold, followed by 1-2 weeks of a tightening range, then a nice push up.
To confirm the uptrend is in place, refer to the moving averages, you'd want to see the price sitting above the 5MA > 8MA > 13MA > 21MA.

Failure to hold the strong support will result in further downside to $0.020 area.

Not financial advice.
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