In this briefing:
1. Korea Circuit Long Support for Press Above Overhead Barriers
Korea Circuit (007810 KS) exhibits the ability to make headway through triple resistance barriers on the back of higher degree divergence that has been forming since late 2017.
Overhead resistance barriers, represented by old floor support levels, once cleared, would open up the intermediate up cycle for Korea Circuit. A failure to clear these important levels would induce a fresh test of recent basing lows.
RSI pocket support helps fine tune a pullback level to take a long bet.
Risk to reward is attractive on a dip near support for a 6:1 ratio (reward to risk).
There are some major hurdles on the way up represented by old floor supports.
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