A bullish Cypher pattern has formed on KMT. TP1: 38.2% of CD TP2: 61.8% of CD SL: Just below D or even slightly above since the uptrend has already begun.
Entry at 30.58 Take Profit at 33.00 (7.91% profit from entry) Stop loss at 28.45
KMT stock false break will go down to the survice line.
Pros: - Force Index making lower highs when prices are reaching higher highs. - MACD bullish divergence - SMA 200 bounce Cons: - Stock started to make higher lows. (More bullish) Trade Grade: 6/8 - Profit potential: Average 1 - Divergence: Good 2 - Candle signal: Good 2 - Emtry timing: Average 1 - Counter trend trade?: No (0)
Chart and indicators are worth watching. Potential long in the near future.
KMS is in a monthly downtrend and it's going to attack the last long term trendline. Bullish divergence on monthly for a possible breakout. Let's see if the rising trendline holds or if it's going for one more test of the lows.