New Support Levels for KKR Financial Holdings LLC (KFN)
Published on 07/22/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- The stock price of KKR Financial Holdings LLC crossed above the 50-day moving average on lighter than usual volume.
The crossing of the stock price above the 50-day moving average may signal the beginning of a bullish trend.
Shares of KFN rose $0.19(+2.41%) to $8.08 in today's trading session.
KFN traded between the range of $7.89 - $8.13. Today's trading activities for KKR Financial Holdings LLC stock may be a sign that the shares
will continue to head higher in the foreseeable future assuming the moving average has upward slope.
Those who are day trading online know that while there are multiple reasons for purchasing and holding a stock, the overall market movement is
based on human instinct. With that in mind, different styles of trading should utilize support and resistance analysis for potential market gain.
Based on the pivot points, the current support and resistance levels for KKR Financial Holdings LLC are 7.93 and 8.17 respectively. If the resistance point price is broken in an upward movement, then the bullish trend is likely to continue and vice versa.
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