Bearish continuation after HEAD and SHOULDERS on KT
this is what I think is happening.
KT has already completed the H&S pattern and is continuing its bearish trend.
1. stock has reached its short term over bought condition
2. the price may continue its upward motion till it reaches 13.9 - 14.0, just about retracing 30% of its previous trend and also a previous strong support price range.
3. the price may start dropping until it reaches a trend line support.
4. if further momentum beyond 14.00 continues it may reach 14.5 and starts encroaching into 50% Fib, from there on the above analysis starts becoming invalid.
Cheers
-scorp
KT has already completed the H&S pattern and is continuing its bearish trend.
1. stock has reached its short term over bought condition
2. the price may continue its upward motion till it reaches 13.9 - 14.0, just about retracing 30% of its previous trend and also a previous strong support price range.
3. the price may start dropping until it reaches a trend line support.
4. if further momentum beyond 14.00 continues it may reach 14.5 and starts encroaching into 50% Fib, from there on the above analysis starts becoming invalid.
Cheers
-scorp
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