The KRE (regional bank sector ETF) short swing trade, which was entered on less than a month ago (first chart below), has just hit T2 for a 9% profit. The potential additional price targets from that initial post are still likely targets, even more so at this time based on recent developments in the broad market, especially if & when the bottom of the T2 zone is clearly taken out. Previous & updated 60-minute charts below.
KRE 60m Feb 7th
KRE 60m March 4th
While the odds for a reaction on KRE are elevated, especially if it continues down to the bottom of the T2 zone before bouncing to work off the near-term oversold conditions, I favor an ultimate drop down to all three of those additional targets. As such, I will update the next chart to remove the “potential” & make those official price targets.