Welcome to RiskMastery's Red Flag Stocks - Stocks with bearish potential.
In this edition, we'll be looking at ASX:KAR ...
I believe this code is at a point of potential volatility.
If price can hold below $1.84 ... Bearish potential may be unlocked.
My key downside targets include:
- $1.63 (Conservative)
- $1.23 (Medium)
- $9.00 (Aggressive)
...
Text me if you have any questions/comments for me.
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KAR
- First time doing an analysis on KAR
- Stock doesn’t have a good history of uptrends
- The good uptrend only started during the covid pandemic in March 2020
- The recent retracement back to the short-term support could provide a good opportunity for entry
- A successful rebound look to be around 1.88...
ENTRY: 1.200
TP: 1.435
SL: 1.075
- ADX<25. Would like to be higher.
- RSI>65.
- RS +ve
- FFI -ve
- Daily MACD +ve
- MAs are aligned.
- Broke up down-trendline and resistance with good volume
Karoon approaching a 12 month run consistently in the channel. Ideal target is jan 2020 high cross with upward channel. Looks good to enter around 1.190 or below. Bottom of the channel can act as stop loss (trail with upward movement.
- Oil consuption forecats say it will reduce
- Electrical vehicle and reusale energy are getting support from public and goverments
- On Monthly charts theer is a fractal
- Long term trend is declining
- Money flow Indicator is declining
Symmetrical triangle breakout confirmed and into next fib level.
Nice bullish candle stick and positive momenmtum in the indicators.
Renko and Heiken Ashi charts show bullish momentum..
Target $2.30 for 20% return around mid february
