$KR potential reversal

2022年1月16日

KR is looking bearish to me for a number of reasons. It is reaching the trend line resistance area and is at the top of the boll band, and the RSI is reaching the oversold area, looking like a sell-off might come. Now for the potential bounce of KR can be various locations. The first one is hitting the trend line support area, and this one seems to be the most likely area. The reason being is, if KR were to fall all the way down there, it would be backed up by the 200 EMA (the thick line), the VPVR red line (the red thin line, forgot the name of it), and would be at the lower boll band indicating that it will be time for a reversal after the selling off finishes. However, KR might not go that low in price. The purple area is the area where KR bounced and had support at the 61.8% and the 78.6% fib levels, and KR might have a higher bounce than expected and might just go up from that purple area.

To conclude things, KR looks bearish to me and should go down these next few days and possibly weeks unless it breaks the resistance and finds support there.

Thank you, and leave any suggestions down below in the comments!