KCAP has been rotating within a clear balance high vol structure area.
Since it tapped the high vol node above and sold off, I think it has good potential to drop a few more cents into 3.08 / 3.20 level, the VALow of the current structure, and then rally hard into 6.07, the next HVN.
This would fill in the wide void area up to 6.07.
Stop is just below the next HVN down at 2.92. So a very strong reward ratio on this one, even to the lower yellow rectangle for a doubletop high 4.80.
Since it tapped the high vol node above and sold off, I think it has good potential to drop a few more cents into 3.08 / 3.20 level, the VALow of the current structure, and then rally hard into 6.07, the next HVN.
This would fill in the wide void area up to 6.07.
Stop is just below the next HVN down at 2.92. So a very strong reward ratio on this one, even to the lower yellow rectangle for a doubletop high 4.80.