Emrut
Short

KRDMD shares may fall hard if it brakes the support

BIST:KRDMD   KARDEMIR (D)
Now the price is going in a triangle with downtrend. Downtrend started on 20/6 and still working, support line is on 2,23. It has been tested 4-5 times but couldn't break the support. When we look at the indicators;

1- RSI broke the support on 3rd try. It may continue to 30's,
2- Parabolic SAR started to show that price will continue to go down,
3- Moving Average is almost breaking the Bollinger baseline,
4- Bollinger bands narrowed down and ready for a steep move

In conclusion we have to check the price to break the support line on 2,23. If it will be broken, next support will be 2,17 than 2,10
Trade closed: target reached: Chart worked perfectly as we guessed and drew the falldown
Strong levels, good.
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very happy to see you publishing ideas and your view, i hope you are also taking the great value i give in my content
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