KGB Short Base VCP Setup
Previous I feature KGB back in 24 July.
After the price surge about 57%, supply occur and it take one month to re-setup a small base VCP to digest out the supply. (indicate in grey pin in the chart)
During the re-setup, higher low appear with 3 contraction below:
C1: -12%
C2: -6%
C3: -3%
Last contraction C3 appear to have shrink volume.
Demand re-enter on 22 Oct breakout C3 stand back above MA20. Will the game continue? Let's monitor next week.
Disclamer:
Not a buy call recommendation. Just my personal interest on sharing through chart pattern and technical analysis. Trade at your own risk.
After the price surge about 57%, supply occur and it take one month to re-setup a small base VCP to digest out the supply. (indicate in grey pin in the chart)
During the re-setup, higher low appear with 3 contraction below:
C1: -12%
C2: -6%
C3: -3%
Last contraction C3 appear to have shrink volume.
Demand re-enter on 22 Oct breakout C3 stand back above MA20. Will the game continue? Let's monitor next week.
Disclamer:
Not a buy call recommendation. Just my personal interest on sharing through chart pattern and technical analysis. Trade at your own risk.
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