Quick follow up post to my recent take on KNDI – Kandi Technologies sometimes referred to as the ‘Chinese Tesla’.
The long-term topping pattern remains in place. Price got rejected by triple resistance:
- Former gap area resistance
- Topping tails cluster
- MA 200 resistance
As long as the stock stays below that resistance area there is no reason to cover my short. This goes along the lines of:
As long as a stock doesn’t give you a reason to exit, stay with the trade.
Click on KNDI chart to enlarge:
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