May. 23 at 11:45 AM
$KNRX Interesting setup going into next week.
Price just pushed up and touched that lower descending resistance line again. If bulls break through the upper channel around .84, things could get very interesting fast. Last breakout over .80 moved quickly toward .90, and a previous breakout from this broader descending structure nearly touched
$2.
What makes this setup interesting:
- tightening descending channel
- MACD starting to curl upward on larger intraday timeframes
- repeated dip buying under .75-.80
- overdue filing still hanging over the stock as a possible catalyst
Honestly… imagine if KNRX drops the filing over the weekend so the market has time to digest it, or releases it premarket Monday. Could be the exact type of catalyst needed to finally break this descending resistance structure.