Possible build-up to breakout, keep an eye on it!

28 дек. 2017 г.

KGC has recently recovered from a massive selloff but is showing signs of an uptrend. It has been following the 13EMA on a rise for the past couple of days and it recently retested it today and bounced back up. Although it shows as a red day, the close for today was higher than yesterday and thus exhibiting higher lows and a possible up-trend. My recommendation is not to buy s of this moment because there was an increase in the selloff of the stock but I would keep a close eye on it and if it breaks out of the ascending triangle then this would be a buy point. The MACD is also showing that the stock is trading on the bullish side and it is expected to keep on rising as it shows not current sign of descent. I am a new trader and looking to learn more, so any constructive criticism is welcomed!