The 62% retrace is a common part of up trending price cycle..whether we are using FA or TA on KNB, now is a time consider the TA closely and not get too confused about the FA and price action imo.... Below is another random example of this retrace, diff stock, year, sector etc (look at any up trending stock and you will find this same retrace as part of this same cycle coming off a major low) ..note also the red vol spike, its selling pressure of some sort, could be a T20 exiting, could be a collusion of shorts, could be tax selling, etc, or all of that forcing a capitulation as well, we cant know for certain so it doesn't matter, but what does matter is will there be a major support lurking around very close to this 62% level here.?
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