Thursday, December 3, 2015

KBIO Chart

My previous KBIO chart indicated a wedge pattern (black lines on this chart), and the stock has broken the bottom support line of that wedge, which is a bearish sign. The good news is that KBIO seems to have some strong support (orange lines) at the $30 level. If the stock manages to break below $30, we could see a quick move towards $25, which is the next support line.