Mish,
Good luck. Hope it turns out well for you. I may join you, but not right now. There's a few things I don't like. Besides the enormous open short interest, I don't like today's bullish candle and strengthening technicals, though admittedly on low volume:
askresearch.com
On the 5 EMA/8 SMA hourly chart, there is a clear crossover buy signal in place, preceded by technical buy signals and followed by candle confirmation:
207.61.23.99
The daily 25 day Bollinger band chart shows KREM has bullishly crossed from the lower rail to the upper rail across the midline, then corrected back to the midline reversal area and now appears to be rebounding towards the upper rail. The upper rail is currently at 76, which is just about where the 200 ema lies.
207.61.23.99
On the 5 minute intraday chart, KREM successfully tested overhead resistance at the 200 min ema, which will now act as support:
askresearch.com
My take is that KREM is headed higher short term, will test or at least approach a test of resistance at the long-term moving averages at about 75 1/4, and again be turned away at that point. I'll look to enter then.
Earnings are before the open on 3/8 (with consensus $0.26), so the recent rally may represent anticipatory upswing going into earnings. The more this continues, the greater the likelihood of a selloff on the news, even if they beat.
JMVHO, as always.......
WS |
