Technical Analysis Of Karex

Karex is in a very bad downtrend whether long term or short term. Therefore, this stock might not be an ideal stock to buy right now. There is still no end to the downtrend.

When you have a stock that is in a downtrend in so many time frames, it is best to stand aside in this stock.

Let us take a look at some of the charts below to see what is happening to Karex.

technical analysis of karex

The chart above is the daily chart of Karex.

As you can see, this stock is in a bad daily downtrend. A stock that is in a downtrend will keep going down till the trend changes. It broke an uptrendline and proceeded to move lower. Then a few days ago, it broke below a consolidation box. This is usually a bearish continuation pattern and will usually send the stock lower.

The fact that the stock stays below the declining 200 MA shows us that this stock is very bearish in the long term.

The chart above is the weekly chart of Karex.

It has made a complete Stage 1 to Stage 4 cycle. From boom to bust.

Recently, it has broken below a long term support area and this is extremely negative for this stock from a technical point of view. Therefore, there is a big possibility for this stock to move lower.

How low, I do not know. There is no support area to watch and therefore, one should remain bearish on this stock till the trend changes.

Last of all, this is the monthly chart.

You can see that it is so bearish even in the monthly chart. The stock actually warned investors back in early 2016 that it was topping out. There was a very big monthly super topping tail and then the stock broke a long term uptrend line.

This is a stock that is very bearish.

If you plan to buy this stock, perhaps you might want to consider another stock that has more potential.

  • If you like this article, consider starting the Stock Market Course. It is free and jam packed with great information for newbies.
  • Want to have updates on the financial markets? Join my Telegram Channel. Dstockmarket.com Channel.
  • Help support this page and press the Facebook Like button below. Thanks!

Recent Articles

  1. Technical Analysis Of DNEX (Dagang Nexchange)

    Feb 13, 19 01:23 PM

    In this page, we will attempt to analyze DNEX using principles of technical analysis. We will be looking at the weekly, daily and 60 min charts.

    Read More

  2. Technical Analysis Of US Stock Market February 2019

    Feb 13, 19 05:59 AM

    An analysis of the US stock market using the principles of technical analysis. What is Dow Jones doing and where will it likely go.

    Read More

  3. Technical Analysis Of VS Industry

    Feb 13, 19 04:52 AM

    In this article, we will analyze what VS Industry is doing through technical analysis. We will also look at what its trend is. Join me on this journey of technical analysis of VS Industry.

    Read More

  4. Technical Analysis Of Supermax

    Feb 12, 19 11:56 AM

    In this article we will use technical analysis to analyze what the price of Supermax is doing and to see what it is telling us.

    Read More

  5. Technical Analysis Of FTSE 100 UK

    Feb 12, 19 06:41 AM

    In this page, we will utilize technical analysis to see what is happening to UK's stock index, FTSE 100 and to see where it is likely to go.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.