A Declining trend line,
When I review a security I start with A normal 3 month period, Always Starting from the currant daily chart and working backwards to draw the more neglected long term trend's and eventually the weekly and monthly trends as well.
Something I always keep in mind is the long term trend line,Is it Ascending or descending ? As the true Direction will often ( not always) follow it's currant path.
Going back to the Fundamentals of charting ( I hope most grasped) We can see the Currant trend for KATX is Down, Going back to the june/july peak of .24/.25 and declining with spikes and bear flags to a suspect .024 today.
Reason for the decline? When nothing is propelling it upward's it will always decline!( I think that is an Original Cooky quote)
And also gives Question to the further decline below the original .04/.05 area of last march, If someone would like to put Fibonacci's numbers to play I would very much like to see the outcome...I will question Katx only thru charts and trends, and today it does not look Favorable. Cooky
Just here for the ride!
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