KCPO:- Another Possible Up Move-21/6/2020

I am changing my stop and will close off my shorts on 2404 on coming Monday. This is due to the ADX has now gone above the D- which is usually a sign that the market has gone oversold. The Stochastic has also crossed up above its 20's level and the MACD , though remains negative but has begun to hook up.

Since the weekly chart ADX is now flat and below the 20's, I would call this market a sidway market. With this observation, I would pay more attention the Stochastic which has now gone to 15's. So there is a possibility that we may see a temporary bottom forming for now. You should pay attention to the lower Bollinger Band which is also happen to be the trendline resistance, any breaches above that area may signal a new upswing move.

Since both the daily and weekly Stochastic are oversold , so there is a chance that this market may see another up move again. If a new buy is triggered keep stop at 2365.