Not at all; a) it breaks out of the downward channel in an upward direction; (I thought these last 2 announcements would do this)(especially greater than .46) usually, when breaking out of a down channel, the stock will rise, drop back, then head up. In respect to KTD though, this has been such a gradual decline that this might not apply. b) it hits the low of 21/12/18 @ .32 (which rejected any further downward movement) c) it forms some recognised patterns that are symbolic in TA: eg ascending triangle, inverted head and shoulder etc.
I must emphasise though, despite the application of TA, the fundamentals of this company are nothing short of fantastic. Ultimately, the profits WILL exceed the cash burn and we will be knocking our glasses together in celebration.
KTD Price at posting:
37.0¢ Sentiment: Buy Disclosure: Not Held