KULR Technology Group, Inc. Technical Video Chart

KULR Technology Group, Inc. (OTCQB: KULR) Technical Video Chart For Sept 30, 2020

Early in 2020, shares of KULR traded by appointment as the company quietly worked in niche aerospace markets. While sexy, that’s not where the company was going to build value, it took moving into commercial markets here on Earth and KULR has burst onto that scene in recent months. That has catalyzed trading volumes, particularly since June, when the stock went from a low of 55 cents to as high as $3.70.

The 10-day trading volume is now near 180,000 shares per day, according to data from Yahoo Finance.

A retrace from the 52-week high at $3.70 established technical support at $0.80 and $0.90. Support is a level identified by technicians where selling tends to end, replaced with buying that results in a stock price rising. Technicians take note of the new uptrend in place since coming off the bottom support, including new higher highs at $1.36 and recently $1.88 this month.

Shares have been consolidating off the recent high for 6 days and holding over the $1.36 support, potentially a sign that the spring tension could be mounting for a next leg in continuance of the uptrend. Further lending credence to that notion is the dragonfly doji made today with KULR opening at $1.59, dipping to $1.42 in intraday trading and closing right where it started. In this case, the doji can be interpreted as a possible signal for a reversal in direction after the pullback from the high.

The way KULR moved in leaps and bounds in June, it did very little to set up technical resistance levels. To that point, there is resistance at $2.00 and some more around $2.15 as intraday highs during the consolidation, but it is relatively open beyond that until the 52-week high is tested again, as is covered in more detail in this short video, making KULR a company to keep an eye on both fundamentally and technically.

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