$KBLB Dealing With Technical Damage On The Charts

KBLB has been a top penny stock for Insider Financial subscribers this year. However, the recent selloff has brought along some significant technical damage.

On the bright side, the 0.786 Fibonacci level held. The stock has now bounced off that level, but there is a great deal of resistance overhead.

KBLB is now trading below its 20 and 50 day moving averages. The 20 is at $.37 and the 50 is at $.33 a share.

The company needs to deliver ground breaking news to get the bulls excited again. All eyes will be on the AGM on the 24th.

In the meantime, we see better chart setups than KBLB at this moment and rate KBLB a hold. To get our next alert via email and SMS, sign up in the link below.

As always, use protective stops and trade with caution.

Good luck to all!