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 

Flag and Pole Formation

Jan 21 2024