Martin, quick analysis of KRAN
KRAN was in a rectangle pattern for some time in the 1.00 to 1.50 area....Recently it broke from the pattern...Take the difference of 50 cents and multiply by 1.62,2.618, and 4.236 to get three upward price objectives...First target of stock should be 2.31, then 2.81, then 3.61....Trying to catch a stock when it is in a flagpole spike formation is too difficult for most experienced traders, so we try to catch the stock when it takes a breather, and then reverses, or we try to catch a breakout....In the case of this stock, I would try to catch it when it takes a breather...I am sure, that there are some traders out there, who love 100% in profits in a few days(I do), and the 3.00 price range gives them this type of payout....As I looked at the height of the second peak in my commodity channel reading, the second peak was not as high as the first peak at 1.65....So playing it safe, I might be a buyer on this stock in the 2.25-2.35 area....You have support at 2.50, so if the stock spikes downward, it will be fast and furious to 2.25-2.35 area....I will have my limit buy order in to catch it if this scenario unwinds.......You have major support in the 1.87-1.93 area....
I like the volume and price action on this stock....
20 day volume=150,600
10 day volume=264,940
5 day volume=345,200
3 day volume=435,233
Pring KST and MACD Histogram are confirming a strong uptrend
Pring last 4 days=1.00,1.23,1.57,2.22
MACD Histogram= 0.069,0.085,0.11, 0.159
+D1 reading sits at 47 with ADX a strong 44......ADX is still not giving an overbought reading, but it is close.....Stochastic moved from 80 to 84......
If you were to ask me, what the crystal ball says on this one, I would guess a bit more upside and then a violent retracement to the support areas I outlined....There are too many traders out there who I don't think will allow the stock to move to my 3.61 target without taking something home to mama....
Right now, I am upset with myself for not re-entering GATE in my 1.75-1.81 price area...I told you guys two days beforehand that is where the stock should retrace to...It did, exactly...I just watched it like a dummy, thinking I could milk a few more pennies out of it...
NEXT TIME Mark, follow your computer, not your emotions.....This trading business gets to me now and then.....
As far as BJCT, it is on my Monday watch list for possible entry at 1.65...I will have to see momentum follow-through for me to believe this expansion breakout has more wind in it.....
I am watching
VIDE,VLTS,HPWR,and MAIN for a few picks for Monday.....Regards, Mark |
