Is KWS about to complete a 2 year triangle?Will KWS break out or break down? Wait and see. by andmk2Updated 330
Hitting convergence of long term support - potentially a bargainPrice has broken down to what I think will be a strong demand area which also converges with prior oversold levels. On a fundamental basis its strong too - just suffered over the last few days from fears gaming has hit a near-term peak. I don't think we will be at this level for long. Longby AntMwah1
Responding well to trended support / possible bottomPrice has broken down quite consistently with the main FTSE indexes in this case since around September - although topping and divergence now seen much earlier. Price has fallen to quite a long term trended area of support where it has responded positively - this I feel is consistent with a horizontal test of the large monthly candle in 2017 where the price rose extremely quickly and trading was very thin. This is being revisited almost as if it were a gap. The full candle has not been retested - and may or may not need to be, this downside is now the risk of further price reduction as I see it. On the positive side, the response from the trend support has been strong, price has started to move upward and technical indicators are all exhausted to the sell side. Upside targets are attractive and require the price to close higher than the weekly candles on the way down - which it has failed to do since October. Therefore if we see a break back above 1164 this will signal the start of a more concerted move higher.Longby AntMwah1
Sometimes market sell-offs throw you an unexpected boneHit lowest trend support & bounced on Friday morning. US markets continued to recover after London close. Price 7 days ago £20 per share. Yours today for a smudge under £15Longby AntMwah1
Keywords Studios May Be On The Brink Of A BreakoutKeywords Studios has been going sideways since late last year and when we see a period of consolidation that lasts for several months, we do not want to enter on the first breakout. As you can see, the first breakout of consolidation in early March saw price return back into the consolidation zone. This is classed as a fake breakout. What we want to do as smart traders is patiently wait for a second breakout. The second breakout helps to confirm the buyers are in control and the probability of price continuing higher are put in out favour. Price has now broken out of consolidation for the second time so we now need to wait for a breakout of the previous high. The upwards momentum is looking strong and we may see a breakout soon. One thing to note is that we have the £20.00 round number not far above price so it will also be worth waiting for price to clear this level. This is on my watchlist and will be ready to trade at the right time. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading Longby Sublime_Trading113
Keywords Studio retesting SupportKeywords Studios LSE:KWS was recently in a long period of consolidation where we saw price going sideways. During times like these, we do not want to enter trades and we must wait until we have a clear trend direction. Now price has broken out of the consolidation zone resistance. Taking the first breakout is not the best option to take because it can easily turn into a fake breakout. The safer option would be to wait for a retest of the resistance turned support and take an entry based on the next breakout. This option puts the probability in our favour because it helps to confirm that the buyers are in control. We just have to sit and patiently wait for the next breakout, if it happens, the we can look at taking a long trade. Any comments or questions, do not hesitate to leave them below. Sublime TradingLongby Sublime_Trading4