KBSF Not looking good.
Hello,
What is KBSF?
KBS Fashion Group Limited is a casual menswear company in China. The Company is engaged in the designing, marketing, and selling its own line of fashion menswear. It operates in three segments: distributor network, corporate stores and OEM.
My Thoughts For You
So far this company has had two reverse splits in 2017 at 1:15 and I would imagine they will be doing that again soon. Reverse splits are just a signal of a company in distress wanting more money from investors. Looking at the chart all I see is a company milking there investors and I don't want to mention that this is another Chinese company.
This chart is full of whipsaws on the short side liquidating any chances for those who wanted in on the short and killing those on the way down liquidating longs. IMO this is just another money grab and isn't worth looking at.
I did spend some time on this chart so that is why I have published it. I have identified a bearish up channel that has already broke structure and to me it is imminent that this price will most likely retest the bottom or go lower. Albeit that when this happens, there will be another reverse split for new suckers.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
What is KBSF?
KBS Fashion Group Limited is a casual menswear company in China. The Company is engaged in the designing, marketing, and selling its own line of fashion menswear. It operates in three segments: distributor network, corporate stores and OEM.
My Thoughts For You
So far this company has had two reverse splits in 2017 at 1:15 and I would imagine they will be doing that again soon. Reverse splits are just a signal of a company in distress wanting more money from investors. Looking at the chart all I see is a company milking there investors and I don't want to mention that this is another Chinese company.
This chart is full of whipsaws on the short side liquidating any chances for those who wanted in on the short and killing those on the way down liquidating longs. IMO this is just another money grab and isn't worth looking at.
I did spend some time on this chart so that is why I have published it. I have identified a bearish up channel that has already broke structure and to me it is imminent that this price will most likely retest the bottom or go lower. Albeit that when this happens, there will be another reverse split for new suckers.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
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