This 60m chart of KIM presents a short-term buying opportunity. The stock has broken through long-term trendline resistance and looks to be carving out an impulsive move higher. Initiating a long position at 16.50 for a ~10% move up toward 18. A move below 15 invalidates the setup.
The second rising wedge breakout in the strong downtrend. We have breakout retested from 50MA with nice engulfing signal and 200MA above the 50MA as confirmation of the strong downtrend.
The first target is 78.6% ($15.22) with main target near 100% at 6.41%.
Do you like it?
KIM is expected to do good on next month earning and stock is currently trading above its 50-day and 200-day MA. KIM seems good solid company to hold for long-term and collect dividends.
Daily 1SD: $0.35
Weekly 1SD: $0.89
Target 1TP: $31.50