KFC running hot, page-56

Likely targets if you want to catch a falling knife:

1. The last big drop from 25/01/2016 to 6/04/2016 was 34.5% from the high. If that is projected from the recent high of 19/12/2016 then we get a possible target for the low of this correction as $4.40 approx. I would be surprised if it dropped that far.

2. CKF normally corrects 61.8% of the range of the prior major rally. The last rally from a low of $3.49 to the high of $6.73 would give a 61.8% correction to $4.73.

3. A trendline drawn from the low on the 10/06/2015 to the low of 6/04/2016 gives a value today of $4.85. In other words if it broke below $4.85 today then it would have broken a long range trendline.