the wedge is narrowing and soon will reach the apex by mid of next week... and then it will be geometrically out of the formation - in EITHER direction...
but because it has been fighting UP the resistance @ 19c repeatedly, the momentum is to go ABOVE that point in a breakout... hence there is a small % chance more of breaking ABOVE 19c than below as per my limited knowledge...
if it breaks above, the rise can be equivalent to the base of this triangle... ADD it to 19c + 4c ~ 23c or so as a rough guide... backed by any positive news, this can be a lot more... the timing is the worst part here... everyone will be busy with the Xmas holidays by the end of next week... may loose momentum - let us hope for something more sustained...
KNL Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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