KGN BOKGN hovering above support level on weekly. Bottom of megaphone pattern.
In the middle of a trading zone on daily.
Had a strong finish to the day yesterday on 1H, looking for entry on a pullback.
Target, next level up.
Just noticed that the break of 1H trend came from a nice hold of PoC level.
KGN trade ideas
With trend, fib pullback, buy support KGNKGN had a strong impulse move with earnings.
It's tested the 66% fib 3 times and making HL, descending triangle.
50/50 on whether it BO or fails.
I almost took the trade on friday.
A higher probability trade is to wait for the BO and look for a pullback to PoC of triangle consolidation period.
An aggressive trade is to enter at support, and take a smaller loss or larger profit.
Ascending triangleAn ascending triangle pattern has recently emerged in the shorter timeframes of Kogan (KGN) stock, suggesting an interesting technical development. Simultaneously, when we examine the weekly chart, we notice that KGN is currently trading just below the 50% Fibonacci retracement level.
The convergence of these two factors presents a notable opportunity for potential investors. If KGN manages to break above the Fib .50 level on the weekly chart, it would signify a bullish move, potentially indicating a significant upward trend.
Considering this technical analysis, it may be worthwhile to contemplate a position trade in KGN, with a horizon spanning a few weeks or possibly even longer. This approach allows investors to take advantage of the anticipated bullish momentum should the breakout materialize, while also aligning with the longer-term potential of the stock.
Australias Kogan Posted Its First Profit In Ages. Stock Up 9%.Kogan.com has reported a "return to profitability" happened in January, when it recorded its first positive underlying earnings since July 2022, totalling $1.5m.
It is down a LONG way from its old highs. Will be interesting to see if this is the start of any kind of price recovery.
Might be a bit too soon, but one to watch.
Kogan, doing all the right things, but very volatileBig movements upad down i dont like, was hoping to see a base, but price action is looking good on daily. Position here with stop at 10.90 is a good low risk play. Broken and retesting downtrend today, if it falls back below the line, no good. But as long as it stays above, a base can be made and a push to break $12 on the cards next week or the following week.
Kogan will need to base before pushing downtrend lineBeen a long watch for Kogan again, but it is looking healthy and ready to break the downtrend. I would leave it on watch for a couple more weeks and see how it goes. Coming into christmas shopping time and i believe kogan is the amazin of Australia. So keep it on watch and if it breaks trendline, look for an entry.
Kogan in resistance zone, see how it plays out next weekCould be a bigger week next week if the report is good. Getting close to the long term downtrend if it breaks could see a medium term mpve to $18.
Quite suprised how well its moved the last few days leading up to the report.
I would wait for a better entry on the hourly..
KGN hitting support on new yearly lows. Short sell.KGN disappointing results and lack of growth post-Covid has hammered this stock from highs back down to under $10. Now hitting support from early 2020, but should this break, then it's back under $8. Holders will be dumping before EOFY as well, likely.
KGN - Has it found Support?KGN had been plummeting hard but now it has shown some kind of support. Seems that Buyers have stepped in because of the recent bullish price action and price could move higher. At this time it is very hard to say that the Bearish Trend is over, but there could be a possibility for price to move up and provide a gain of 10% and move higher to the next resistance level. My trade plan is given below:
TP - $15.600
Stoploss - $11.80
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
How do i Trade this ?Had nice rally in the past but failed to make a higher high. Looks like its going to make a triangle pattern if purple support holds and breakout will provide a good rr trade opportunity. Alternatively if purple support breaks on daily level short till the gap which is fibb .618 level. That's my plan anyways. Will trade cfd only. No overnight holds. Appreciate like or comments.
Thanks for reading.