KSN Chart, page-245

KSN has been spat out sideways from consolidation. Trying to re-establish a trend.
This is TA only and not a recommendation. DYOR.
The problem here is trend - or lack of one.
My trading chart.
Today the price hit a low of 21.5c. At 20.5c the price moves to where the cursor is. May happen tomorrow. Potential double bottom.
If it drops to 19.5c then the stock could be in for further falls as the double top kicks in.
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The short term (2%) chart also has something to offer.
I have plotted in the price move for today. Now in a potential double bottom position, beginning of support.
On this chart, at 20.5c the price drops to one box below the cursor – right on trend and generates a buy signal where the cursor is.
I added a bit of history to show that these can be optimal buy times and this was while gold was falling. Trend did not break till December.
If it drops to 19.5 then the trend is gone and in trouble.
This is an excellent example of when to optimally time a purchase with a close stop loss. Does not happen very often.
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