Flag and Pole Formation
KUNAL KAMBLE
KTOS·
Jan 21 2024
On an hourly time frame, Kratos has formed Flag and Pole Patterns. Flag and Pole is a continuation pattern. In the current scenario, the trend is negative and a small retracement is seen in the upward direction. A breakout in the downward direction would be a continuation of the downtrend.
The price is trading below the Fast and Slow EMA indicating a negative trend, whereas the Fast EMA is trending downward which indicates a negative trend.
The DI- is trading above DI+ indicating a negative trend, whereas the ADX trading above DI+ indicates strength in the move.
The RSI is following the price action supporting the price action.
A breakdown would be an opportunity to enter short in Kartos