Kronos Looks Close To A Long Term Bottom

The specialty chemicals company Kronos Worldwide (KRO) has lost well over 50% of its market cap over the past 2 years. As we can see from the chart below, shares have managed to stay above their 2019 lows but we are still trading precariously close to them. As we can see from the MACD indicator below, we are very close to a technical buying signal. If indeed, we get a crossover here in the near-term and a convincing break above the company┬┤s 10 month moving average, then the odds would definitely strengthen that multi-year lows for the shares are in. Although the monthly histogram has not yet crossed over its own zero-line, it is very close to doing so at present. Every time, the histogram crossed over into bullish territory, the share-price rallied. The buying volume on the second chart places the odds in favor of a bullish move here.

Illustration on How Volume In Kronos Has Been Rising

 

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