Chart, page-1511

accumulation phase…. ? new institutions trying to get in ? Or current to increase their position… Volume aint lying



Here's a technical analysis (TA) breakdown of the **Kingsgate Consolidated Ltd (KCN)** chart you've provided:---### **General Overview*** **Current Price**: \$2.05 AUD* **Daily Change**: +1.99% (↑)* **Bid-Ask Spread**: \$2.040 (Sell) / \$2.050 (Buy)* **Volume**: Recently increased with notable green bars (buying pressure)---### **Price Action & Trend*** The stock is in a **strong uptrend** since March.* Price recently **broke out of a consolidation** around the \$1.65–\$1.70 level (marked by horizontal resistance).* Current price action shows **tight consolidation** near highs—this is often bullish and could be a **bullish flag or continuation pattern**.* Support appears to be around **\$1.67**, with the next resistance possibly near **\$2.20–\$2.30** if momentum continues.---### **Volume Analysis*** Volume has been **increasing during the uptrend**, which confirms the **strength of the move**.* Recent high volume spikes suggest **institutional interest** or strong buying conviction.* Volume on consolidation days is generally lower, showing healthy digestion of gains.---### **Stochastic RSI*** Current value: **28.33 (blue)** and **27.70 (orange)*** The Stoch RSI is in the **oversold zone (<30)**.* A **bullish crossover** seems imminent or may have just occurred, which can be an early sign of an **upward move**.* If the crossover confirms and trends upward, this could support a **momentum continuation breakout**.---### **Wyckoff Springs Indicator (QuantVue)*** Indicates a **"Spring" pattern**, often part of **accumulation phase** in Wyckoff theory—suggesting smart money may be accumulating for a move higher.* Price is well above the “spring” support zones, confirming the **markup phase** is in progress.---### **Conclusion****Bullish Bias*** Strong trend, high volume, and consolidation at highs with oversold Stoch RSI = **possible breakout setup**.* Watch for a break above **\$2.10–\$2.15** on strong volume to confirm the continuation.* Key support is around **\$1.67** — a break below that would negate the current bullish structure.