{"id":7964,"date":"2020-12-09T08:55:44","date_gmt":"2020-12-09T13:55:44","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=7964"},"modified":"2020-12-09T09:05:18","modified_gmt":"2020-12-09T14:05:18","slug":"kc-ipo-breakout","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/kc-ipo-breakout\/","title":{"rendered":"Bonus Stock Trade Alert: $KC Breakout Setup"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

$KC has been consolidating since its IPO launch earlier this year, but this hot growth stock is now ready to break out to a fresh all-time high. Here’s the technical trade setup…<\/h2>\n\n\n\n

Today on the Morpheus blog, we are sharing a special, bonus stock pick that was posted for Wagner Daily<\/a><\/em> subscribers last night.<\/p>\n\n\n\n

Kingsoft Cloud ($KC) is a recent Nasdaq IPO that provides cloud computing services to businesses and organizations across China.<\/p>\n\n\n\n

$KC closed at $23.84 on its first day of trading (May 8, 2020), pulled back in the following days, then popped to a new high about six weeks later.<\/p>\n\n\n\n

Kingsoft Cloud has been in consolidation mode since then, oscillating in a sideways range between the $28-$41 levels.<\/p>\n\n\n\n

$KC has attempted to break out above the $41 area four different times since its IPO launch, but each attempt was followed by a sharp sell-off.<\/p>\n\n\n\n

However, as shown below, the recent rally through $41 in late November has shown a change of character over the past two weeks:<\/p>\n\n\n\n

\"$KC

<\/figcaption><\/figure>\n\n\n\n

Rather than immediately selling off after testing the $41 level, notice the price action tightened up this time and is holding above support of its rising 10-day exponential moving average.<\/p>\n\n\n\n

The 20 and 50-day moving averages area also now trending higher, providing further support below the current price. <\/p>\n\n\n\n

Volume has also declined during this tighter consolidation phase, which is another bullish signal.<\/p>\n\n\n\n

Kingsoft Cloud lacks the strong earnings growth of most of our growth stock picks<\/a>, but sales revenue has swelled by +56%, +60%, and +81% respectively over the last three quarters. <\/p>\n\n\n\n

If $KC can break out above the high of its base, it will establish a new all-time high with no overhead resistance:<\/p>\n\n\n\n

\"$KC

<\/figcaption><\/figure>\n\n\n\n

We are now stalking $KC for swing trade buy entry on a rally above the three-day high of $42.66.<\/em> <\/p>\n\n\n\n

Our exact buy trigger, stop, and target prices for this trade setup are also available to Wagner Daily<\/strong><\/a><\/em> subscribers in the “Watchlist” section of today’s report.<\/p>\n\n\n\n

We also remain long Snowflake ($SNOW), which is now showing a gain of +57%, since our newsletter buy entry less than one month ago. Check out $SNOW IPO: How the Bullish Reversal Candlestick Pattern Led to a +33% Gain in 8 Days<\/a><\/em> to see the original trade setup that led to this big winner.<\/p>\n","protected":false},"excerpt":{"rendered":"

$KC has been consolidating since its IPO launch earlier this year, but this hot growth stock is now ready to break out to a fresh all-time high. Here’s the technical trade setup… Today on the Morpheus blog, we are sharing a special, bonus stock pick that was posted for Wagner Daily subscribers last night. Kingsoft […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5],"tags":[],"class_list":["post-7964","post","type-post","status-publish","format-standard","hentry","category-stock-picks-analysis"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/7964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=7964"}],"version-history":[{"count":6,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/7964\/revisions"}],"predecessor-version":[{"id":7978,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/7964\/revisions\/7978"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=7964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=7964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=7964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}