Tweezer Bottom

The other day I wrote about a tweezer bottom in GM that was separated by an hour. How about this one in KKD from Thursday? The bottom occurs in each increment of a two hour chart.



The tweezer bottom is telling you that this is it – there is no more down side to this stock – every time it hits here it is going up. That is a good thing to know.

Here is what happened on Friday with KKD.



You can see the four bottoms on Thursday in the 10, 1, 2 and 3 hours. On Friday it set-up nicely at 9.78 and went up from there for a bit. I'd watch this one for awhile longer - it may continue to climb now that it drew the line in the sand.

(This is not a recommendation to buy this stock - nor is it a recommendation to buy Krispy Kreme donuts)