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RHby u/rana.hamdan·2hAnalysis

Watching KC after today's move

Bit of a surprise today in $KC, seeing it rocket up over 4% to 10.91, after bouncing nicely off that 10.895 intraday low. I've been eyeing this for a bit, and while it's a strong move, it's pushing right into that resistance area around the 11.16 high. My read is that if we can't sustain above 11.20-11.25 on a closing basis, this could very well be a bit of a head-fake, and we could see it give back some of these gains pretty quickly. The risk for me on any further upward continuation is a failure to hold above today's open around 10.80. If that level breaks, my bullish lean is out the window, and I'd be looking for a retest of lower support. Just my thoughts, no crystal ball here.

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