KS Energy: Down Trend Confirmed?

KS Energy seems like trading on a down trend where lower low has been formed. 

Things to watch out whether KS Energy will continue the down trend:

  1. Whether KS Energy can break above the 20D MA resistance at about $1.12.
  2. If $1.12 resistance is broken, the next critical resistance level is $1.194. This is the previous high and also 61.8% Fibonacci Retracement Resistance.

If KS Energy cannot get past and go above the above conditions, a lower high is formed and the down trend is confirmed.

This Post Has 5 Comments

  1. gary

    Hi,marubozu sorry for never put down my name thks for advice. Buy @$1.02 hold or sell please advice thank you.

  2. Marubozu

    Hi Gary,

    Down trend has started base on chart pattern.

    Base on my rules: I will cut loss when the chart pattern tells me it is a down trend, ie.
    (1) Stock price below 20D, 50D, 200D MA.
    (2) Chart pattern is showing a lower low, lower high down trend pattern.

    You may need to formulate your own rule whether you want to sell or hold.

    I am not certified analysts to give “buy”, “hold” or “sell” call. You may need to make your own decision.

    Hope it helps.


  3. gary

    Hi,Thank You for the advice, make a wrong move, Shall Cut Loss.Like your blog very much,thks again Marubozu.

  4. gary

    Hi,Marubozu Saw your e-mail,chating with DL about learning a good lessonon on trangle,very lnteresting and heard about Parabolic Curve but don’t know how to use, can I learn from you.Very exciting to wait for your reply thks.Hope you can teach. Gary

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