Got Milk?
Friday I was choking on
those Original Glazed doughnuts, but it was nothing a tall glass of cold milk
couldn’t wash down. Krispy Kreme (KKD) announced earnings Friday and the stock
experienced a “squeeze” to the upside. However, the move was contained by our
Fibonacci parameters. The case for a short set up is still there:
1) Fibonacci price resistance
from 39.45-41.61.2) Fibonacci time cycles kicking in for a cycle high around the next day or
so.
The flipside to this is
if
(
KKD |
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PowerRating) continues on the northbound track and pushes through our price
resistance zone and makes higher highs past our time cycles. In that situation
I’ll have to start setting up the buy side and look to buy pullbacks into support.
I’ll keep you posted. For now, if a trigger is initiated to short, my stop will
be just above 41.61.
Have a great
night!
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