Previously, I posted the idea that the breakout of KKR's ascending wedge could lead prices into a larger and faster downtrend.
However, prices failed to sustain below the breakout region and moved back inside the chart pattern.
This current condition may have reinforced the relevance of the uptrend line (part of the wedge), demonstrating an increase in the strength of the previously weakened uptrend caused by the formation of the ascending wedge.
Does this mean there will be a breakout above the upper region of the pattern? I don't know; we have to wait.
For now, the previously broken wedge (according to my technical analysis) holds, and its uptrend line gains more significance.
However, prices failed to sustain below the breakout region and moved back inside the chart pattern.
This current condition may have reinforced the relevance of the uptrend line (part of the wedge), demonstrating an increase in the strength of the previously weakened uptrend caused by the formation of the ascending wedge.
Does this mean there will be a breakout above the upper region of the pattern? I don't know; we have to wait.
For now, the previously broken wedge (according to my technical analysis) holds, and its uptrend line gains more significance.