KepCorp

Commentry:

As expected KepCorp has been under some heavy selling pressure since mid Sept. Recent rally fom the low, ends at fibonacci resistance of 38.2%. Thereafter price action has shown signs of cluttering under the downtrend line.

Strategy:

This cluttering under the downtrend line is an ideal setup for traders to assume short position as cut lost can be kept very tight if price action would to pierce the trendline. Prior support at $4.55 was broken and MA 5 has cut down MA 20 from above. Price is likely to test prior low at $3.35 in the near future