Candlestick & Breakout Patterns

KRONO Rounding Bottom Bullish Structure With A Number Of Strong Breakout

Ming Jong Tey
Publish date: Thu, 11 May 2017, 05:39 PM
Understand the psychology behind the candlestick & breakout pattern will give you an edge to realize why the market does what it does and anticipate opportunities before they happen!

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KRONO (0176): Bullish

Pattern: Rounding Bottom Breakout

KRONO Weekly Rounding Bottom Breakout

As shown in KRONO's weekly chart above, it broke out the neckline of the rounding bottom 2 weeks ago, hitting a historical high。

KRONO Daily breakout with volume

Based on KRONO's daily chart above, it broke out from the resistance with strong volume as circled in blue, to show its true intention.

Based on the rounding bottom pattern, the target prices of KRONO are 0.70 and 0.88.

I stay bullish on KRONO when it trading above 0.42.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

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Cheers,

Ming Jong

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Discussions
1 person likes this. Showing 4 of 4 comments

Yipman

this bullish definitely will continue till 1H of FY2018.

2017-05-12 10:35

Ming Jong Tey

@Yipman Let's see if the coming earning season tide will propel it further.

2017-05-12 16:52

Syimgoku

How long do you anticipate the price to reach 70sen

2017-06-15 14:55

Ming Jong Tey

@Syimgoku Possibly in 3 months

2017-06-16 10:32

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