KAZ Minerals Compound Triggered

UK Stocks are starting to recover from the pullbacks and consolidation they have recently been in and are offering entry points. KAZ-LON is a stock that I was first triggered into back in 2015.

The monthly chart above shows the period of consolidation that price has been in since 2014. It was when price broke and closed above the high of the consolidation of 2014 that this became of interest. We can see since then, price has gone on to trend and is now approaching 500.

The weekly time frame above shows price is trading above the weekly 200sma giving it a bullish bias and the TDT trend filter is green confirming that price is in a bullish trend. The trend filter has been green since July of last year confirming a bullish trend has very much established itself.

The daily time frame above also shows a bullish bias with price trading above the 200sma and the trend filter is now green again suggesting the reemergence of the bull trend. The trend filter had been predominantly green from July 2015 until December 2015, when we saw the start of the period of consolidation which was made of a cup and handle formation of sorts. I say “of sorts” as the resistance was pierced at the second point of creating the cup. This chart pattern, once confirmed, suggests a continuation of the bull trend.

Price has now broken above this week’s pivot resistance and today’s move has triggered me into another position.

One of the skills of trading is thinking in terms of risk to reward and looking back at the monthly chart, there is plenty of scope for reward with potentially moving back towards the high of 2011 and then 2008.

I will continue to add strategically as and when price offers further entry points.


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