HG,
KREM is a light trading stock, so technicals may not be valid here. But just looking at the chart and technicals, KREM has many of the characteristics I would look for in a short. It is in a technical downtrend, and has rallied up to the 200 day SMA, where it has run into stiff resistance, with weakening technicals. KREM is giving every indication that the test of overhead at the declining and re-aligning long-term moving averages will not succeed. It is also piercing the upper rail of the 25 day BB:
stockcharts.com[w,a]dbclyymy[dc][pb50!b100!d25,2!b200][vc60][iUb14!La8,13,8!Lf!Lp14,3,3!Lq3,10!Lg]
I have no idea how many shares are held short, or what the put/call ratio and open interest configurations are, but if these are favorable or neutral I would short KREM right here.
Ideal entry with no significant gap up or down would be 72 7/8, with a stop at 75 1/2. If KREM rallies a bit at the open, I would look to enter at the declining 200 min moving average, as soon as it tested and failed there. Currently, the 200 min ema sits just above 73:
askresearch.com
JMVHO, of course........
Walkingshadow |
