Will the wedge in KKR be broken soon?

KKR & Co. Inc.NYSE

Deskripsi

⋅ 24 Okt 2023 pukul 08.42

We've reached the support zone. Now the battle begins.

Will the buyers have more strength, or is the breakdown certain?

If the buyers win, the target is the upper band of the wedge.

If sellers win, the reference regarding wedge breakdowns suggests that the next move will be fast and strong towards the initial zone of the wedge.

Komentar

⋅ 30 Okt 2023 pukul 10.02

What is a valid breakdown? It depends.

For Martin Pring, a close below the support zone could be a confirmation of a breakdown.

Using that definition, the KKR ascending wedge was broken. This suggests a fast movement to the downside.

Although, a pullback is possible before the downtrend speeds up.

Trend Analysis Chart Patterns

Komentar

luccapelegrinift

⋅ 5 Nov 2023 pukul 19.48

Previously, I posted the idea that the breakout of KKR's ascending wedge could lead prices into a larger and faster downtrend.

However, prices failed to sustain below the breakout region and moved back inside the chart pattern.

This current condition may have reinforced the relevance of the uptrend line (part of the wedge), demonstrating an increase in the strength of the previously weakened uptrend caused by the formation of the ascending wedge.

Does this mean there will be a breakout above the upper region of the pattern? I don't know; we have to wait.

For now, the previously broken wedge (according to my technical analysis) holds, and its uptrend line gains more significance.

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