Trade ideas
KGN near 2 months ceilingIt takes nearly one month for KGN to break the thick cloud.
Now KGN is facing another challenge, the resistance level near $5.
Please keep an eye close because it may have a higher chance to break the resistance level as the future cloud told us.
Short term support = Tenkan-sen @ $4.60
Similar structures, different stocks FZO vs KGNThese two charts are pretty similar.
FZO, a slightly rebounced from the purple trend line, let'see if it can break the downward trend line.
KGN, Refer to my previous analysis, it is likely to retest 3.25 or 2.8 on weekly chart.
By looking at this graph, it may find some support at the purple trend, and the interesting part is the price can be $3.25 as well.
Why KGN plunged by technical analysis From the news, we knew that KGN founders sold 3 million shares at $4.25 each
No matter what kinds of news are spreading right now, the W chart on the right has already told us how "Dark cloud cover" works. This candlestick pattern occurred on 16-Oct, few days before the news announcement.
If you hold this stock, then I recommend you to sell at the retracement zone on D chart.
From W chart on the right, it is going to crash further to test 40 SMA or Fib Ret 50% or 61.8% level.
How to make money by Midas Touch SearchesI don’t know how many of you know a stock analysis program called “VectorVest”
Today, I will show you how to make money by its powerful search Midas Touch
Basically, you may use the default settings in the program.
For advanced users, you may amend the parameters to suit your taste.
Steps
1) Open your VectorVest program, select AUS market.
2) Go to UniSearch Tab, select date: 05-Jul-17
3) Select ProTrader (only if you subscribed protrader account), click on Bottom Fishing Using MA Crossovers
4) Now, Amend the parameters into the following:
• Stock stop price MA MA(10) has crossed above MA(65) in the past 3 days
• Stock price – (Actual) < 2
• Stock High – (Day’s High) Trending Higher 1 days
• Sector Sector <> Energy, ETFs, Financials, Health Care, IT, Telecom Svcs, Utilities
• Stock GRT – (Growth Rate) > 10
5) Run Search
Then VectorVest filtered 1987 Aussie stocks, and gives you 2 results sorting by VST in descending order
Kogan.com Ltd KGN $ 1.73
Fastbrick Robo FBR $0.155
Then look at the graphs
KGN Dark Cloud CoverWhat a dramatic result !
18% gain yesterday to touch the simple trend line resistance, but 6% loss today to form a dark cloud cover pattern on both 4H and D charts
Correction to be taken place to recent high at $ 2.63 (Fib Ret. 50% level)
