KEY post dividend dump. It's almost like clockwork, after the dividend there is a sell off. The trend has turned to the downside, not a bad idea to take profit until the trend reverses again especially with KEY having a big gap to contend with before it moves higher.
I want to share with you another TREND LINE trade I have my eyes on. Ticker KEY - Keyera Corp.
I cant help but admire what I see here from a technical standpoint. I'm liking the current price point here as we may, AFTER 2 previous attempts, see a break through the upper ascending trend line. We have support of higher highs and higher lows. Also not extended...
KEY was already showing weakness and now you have your typical dump following the dividend payout. Both down trends prior to this followed the same angle when it reversed to the upside, look for it to do the same again.
I own this stock, and I'd prefer not to sell, I have to accept that price can move on technicals if there is a catalyst. Could be some tax-loss harvesting, vaccine troubles, insert reason here. RSI showing bearish divergence. Would prefer that the neckline is tested in the next month or so, at 20, which presents a good buy price to add, of course with the yield...
KEY has had higher lows each of the past three trading days. It has also test prices at the lower bollinger band level. Price action shows a rising bull market.
Lots of momentum and the bulls have definitely taken over. I expect it to rise to at least $37.