1
$KWEB hitting recent resistance, watching for follow through
Watching $KWEB today. It's pushed up to 28.49, right at the top of its recent range and hitting that resistance level we saw earlier this month. The intraday high today is 28.49 which is notable. If it can sustain a close above this area, particularly if we see some follow-through buying tomorrow, then the potential for a move to the low 30s opens up. The risk to this idea, of course, is a failure to hold these gains, specifically if it dips back below 28.00 on any volume. That would likely signal a rejection and potentially lead to a retest of the 27.00-27.50 zone. The current action feels a bit stretched, but the volume needs to confirm one way or the other.
0 comments · 1 points