KBH Chart: Macro Resistance TEST - What Next?!
Here we are looking at KBH on the Weekly TF…
As you can see, KBH currently testing a MACRO downwards sloping resistance line dating back to the early 2000’s. When assessing where it is, it’s important to note two interrelated factors. The first factor we need to consider is that KBH is currently breaking out from the downwards sloping resistance line. The weekly candle is coming to a close, and it is looking like it will close above the trend line. The second factor we must consider is that A LOT of charts are VERY over extended, and have slightly breached their MACRO resistance lines.
To me, this seems like a potential good time to short, despite the slight breakout of this line. It seems in line with the many over extended charts in the market. Paired with the weary fundamentals (high interest rates for example), this may be a good time to start considering longer term swing short entries!
I will continue to monitor this chart, and provide timely updates as I see fit!
Cheers!!
As you can see, KBH currently testing a MACRO downwards sloping resistance line dating back to the early 2000’s. When assessing where it is, it’s important to note two interrelated factors. The first factor we need to consider is that KBH is currently breaking out from the downwards sloping resistance line. The weekly candle is coming to a close, and it is looking like it will close above the trend line. The second factor we must consider is that A LOT of charts are VERY over extended, and have slightly breached their MACRO resistance lines.
To me, this seems like a potential good time to short, despite the slight breakout of this line. It seems in line with the many over extended charts in the market. Paired with the weary fundamentals (high interest rates for example), this may be a good time to start considering longer term swing short entries!
I will continue to monitor this chart, and provide timely updates as I see fit!
Cheers!!
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Stocks: inthemoneystocks.com/verified-investing-alerts/
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Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
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