mkate_nusu wrote:@karasinga please post any developments on KQ chart.
thanks
Hello Mkate_nusu
KQ is at a strategic place("on the run way") on the chart indicating sky is the limit.
Technical reasons.
1. Price in the Golden zone
2. Price has just reacted on a very strong demand zone.(check my chart)
3. Presence of a hidden divergence- denoting continuation on the prior rally
4. Very little volume during the correction.
5. Low of 4.6 might have achieved wave 2.
The list goes on and on. Enough of this... let us look at the chart
expectationIf this is wave 2 then
Wave 3 = either 1.62 x length of Wave 1
(10.4)or 2.62 x length of Wave 1
(14.8)or 4.25 x length of Wave 1
(22)The most common multiples are 1.62 and 2.62. However, if the 3rd Wave is an extended wave, then 2.62 and 4.25 ratios are more common.
Hope this is helpful.
best wishes.
DISCLAIMER
This analysis is designed to inform you on the counter's direction. It is not a recommendation to buy or sell but rather a guideline to interpret the market. The information presented should only be used by investors who are aware of the risk inherent in trading. I shall have no liability for any investment decision based on the use of this analysis It's not over until I winskype id: karasinga. email:
kkarasinga@gmail.com