I get a 'Daily Trading Ideas' mail from HSBC, and it has KGN today as a Bearish stock. Says this:Kogan.com Ltd forms bearish "Continuation Wedge" chart pattern
Sep 16, 2019Recognia has detected a "Continuation Wedge (Bearish)" chart pattern formed on Kogan.com Ltd (KGN:ASX). This bearish signal indicates that the stock price may fall from the close of6.15to the range of4.30-4.70. The pattern formed over 21 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior downtrend is set to continue. A Continuation Wedge (Bearish) represents a temporary interruption to a downtrend, taking the shape of two converging trendlines both slanted upward against the trend. During this time the bulls attempt to win over the bears, but in the end the bears triumph as the break below the lower trendline signals a continuation of the prior downtrend.
KGN Charts, page-16
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Last
$4.83 |
Change
0.090(1.90%) |
Mkt cap ! $486.3M | |||
| Open | High | Low | Value | Volume |
| $4.78 | $4.90 | $4.70 | $6.683M | 1.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2745 | $4.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.84 | 678 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$4.82 |
Change
0.090 ( 0.18 %) |
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| Open | High | Low | Volume | ||
| $4.82 | $4.90 | $4.70 | 180062 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| KGN (ASX) Chart |