Friday, June 20, 2008

KKD - The move that was.

I first posted about Krispy Kreme KKD on my stockharts page in January and said that this was one to accumulate- there were even times you could accumulate KKD for under $3 dollars.
I recently posted a buy recommendation for KKD on June 10th and since then it has run 65% to a recent high of 5.60. The Tehcnicals were there and the propabilities were also - the MA's were crossing, teh resistance line was being breached, the RSI bounced on 50 and the Money Flows were extremely in favor of demand for the stock.
I will recommend selling 2/3 of KKD here and letting go of the last 1/3 if prices move towards the resistance line, possibly even pulling a Doji Star into the resistance area. Overall the technicals spoke - the market listened - or was it vice versus? I'll let you decide.

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