KCS Technical Analysis: High Momentum Reversal Surpasses $17
Table of contents
Key technical points:
Past Performance of KCS
KCS prices showcased a sharp V-shaped reversal from the $9.45 mark resulting in the $15 and the 50 DMA breakout within a week. The bullish rally regains momentum after retesting the DMA breakout and friends another higher low at $15 to reach the resistance level at $17.
Source- Tradingview
KCS Technical Analysis
The ongoing bullish rally shows a daily candle with significantly lower price rejection near the $17 resistance signaling a bullish resurgence. Thus, the price action shows a high probability of an uptrend continuation to reach the next psychological level of $20. The Daily Moving Averages – 20, 100, and 200-days maintain a bearish alignment, but a bullish reversal can be seen as the prices surpass the 50 DMA to reach the 200 DMA.
The RSI indicator shows that the slope rises above the 14-day average and the halfway mark entering the nearly overbought zone. Additionally, the MACD indicator displays a rising trend in the histograms after the short resting phase fueling the uptrend in the MACD and signal lines approaching the zero line. In a nutshell, the KCS technical analysis shows a bullish journey gaining momentum and ready to head higher.
Upcoming Trend
If the KCS price continues the bullish journey, the uptrend will surpass the $17 level and reach the psychological mark of $20 before the weekend. However, an unlikely reversal will result in a retracement to $15.
Resistance Levels: $18 and $20
Support Levels: $15 and $13