OE,
My comments were directed towards KREM's very short term outlook. I anticipate that KREM will fail at the test of overhead resistance at the 200 day EMA/SMA area, but that remains to be seen for sure. It's just that I don't like to enter a short position while the technicals/chart/candle still has any bullishness about it. I'd rather wait until it begins to fail, and shows its hand. Anticipation is a sucker's game, IMHO. Stocks reversing from a downtrend to an uptrend are largely indistinguishable in the initial stage from stocks rallying to resistance, but destined to fail.
As of this writing, KREM still has a bullish hammer candle forming today, with a stochastic crossover buy signal and a MACD signal still in place. As long as this remains the case, I will not enter a short position here. But there's trouble ahead at chart resistance at 75, and/or moving average resistance at 76 3/4. That would be the area I would consider a short entry upon the appearance of technical and candle weakness, no sooner.
stockcharts.com[h,a]dbclyymy[db][pb100!b200][vc60][iUp14,3,3!La12,26,9]
JMVHO, as always.......
WS |
