Chart of the Week: KKR
Hey good morning everybody. Happy Wednesday. It’s time for our chart of the week, and we’re gonna be focused in on private equity name KKR, the old Kohlberg Kravis Roberts, KKR. Here’s this chart over on the left hand side. Let’s take a look at this thing.
So, you can see after a nice run from the beginning of April, the stock was up from about $87 up to about $150 – that’s close to an 87% run.
Stock’s cooled down a little bit at the end of July and pulled down. What you like to see is when it pulls down on lower volume, and that’s really what we have here. A little bit of a downtrend over here – downtrend channel – but you can see the volume kind of died down over here in August.
And it pulled right back up at the beginning part of September, followed through, went up to this 50 day moving average, and has held firmly over the past couple of weeks.
It’s having a good day today on pretty good volume, too. You see that relative strength is in an uptrend here.
Moving average convergence/divergence, the MACD, is on a buy signal now. And you can see that right over here. That crossed over in the middle of September.
And we had a good volume bar last week. Of course, that was expiration Friday on the 19th. So we did have some good heavy volume coming in there on that particular day.
So all in all, I think this is one of the top names in the private equity area. We have CG, which is Carlyle Group, Blackstone, Apollo, and even to a lesser extent Blackstone. But KKR is one of the top names over here. It’s right near an all time high, and I think this stock has some room to about $175-180 over the next couple of months.
So take a look at KKR.
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