Samsung Electronics (KS:) Co Ltd DRC Pref (LON:) has seen an intraday break of key resistance, yet volumes are low and bears may have a case to make. Whichever camp you’re in, keep a close eye on price action around current levels as it could pace the way for a sizable move in either direction.
Bullish clues:
Trade tensions between US and China have thawed (for now)A multi-month, inverted head and shoulders could be close to a breakoutBullish momentum has erupted of late, heading into key resistance (the neckline)A small bullish hammer marks a clear swing low beneath the necklineBearish clues:
Trade tensions between US and China could return (although this will likely be October if they do)Samsung (KS:) has underperformed relative to the Semiconductor ETF (SOXX) this past yeariShares PHLX Semiconductor (NASDAQ:) resides below key resistance after an already solid run (will resistance hold for the sector?)Today’s intraday breakout has been seen on low volume. A breakout on low volume (or series of bearish candles which revert beneath the breakout level) could be used to warn of a bull-trapOriginal Post
