$KR - Breaking out to new 1 Yr High. Not All Time though
The levels to watch for in KR.
34.50 is a heavy resistance, technically. So a pullback to $32.00 is still highly probable after a break below 33.80.
A break above 34.50 is a quick rally up to the next level. Then it will coil up for a while and get smack down really hard, if the momentum doesnt build.
34.50 is a heavy resistance, technically. So a pullback to $32.00 is still highly probable after a break below 33.80.
A break above 34.50 is a quick rally up to the next level. Then it will coil up for a while and get smack down really hard, if the momentum doesnt build.
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Situations are changing. A symmetrical triangle pattern on Trigger Chart suggest a good consolidation. If you have the short position (options), I would recommend getting a position to smooth out your risk.
For eg, Naked Calls for $3.45 - Buy an out of the money Vertical for 4 Wide for $1. Essentially, you have added risk against your position, if it were to pop against you, you are well protected. Flip out the Vertical at a good profit and carry your Naked calls forward.
For eg, Naked Calls for $3.45 - Buy an out of the money Vertical for 4 Wide for $1. Essentially, you have added risk against your position, if it were to pop against you, you are well protected. Flip out the Vertical at a good profit and carry your Naked calls forward.
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There is the main move. Now, its time to review your trade here.
Uday C Santhakumar
