Eliarich
Long

Kapstone Paper & Packaging Who will prevail bulls or bears?

NYSE:KS   KAPSTONE PAPER & PACKAGING CRP
20 0 1
Positive signs for the bulls come from the broken down trend line, the upside crossing of the EMA 50 above EMA 200, the RSI Bottoming at around 40% and the low volatility levels that usually precede a trend. On the other hand, Elliot wave suggest a complete ABC corrective count where A=C which is indicate that the down trend will resume, this scenario is supported by a bearish MACD line crossing below the signal line in an overbought area.
A long position and will remain valid as long as the 16.80$ level is not breached to the downside, first target is 21$ than 25$