Koss stock price continues to struggle for upside momentum as insider share sales continued into the third month.
The latest stock sales by company executives was that of John C Koss Jr, the Vice-President Sales and owner of a 10% stake in Koss Corporation.
According to a Form 4 filing with the U.S. Securities and Exchange Commission (SEC), Koss Jr sold a total of $196,700 worth of Koss stocks on 14 June, marking the 17th insider stock sale in 90 days.
Koss stock price started 2021 with a rocket surge of 480% on 27 January, before bears brought the stock price back to earth in the next three days. It spiked again on 2 June, adding 68.6% before the share price entered a corrective decline.
Koss stock price is set to close the week 7.12% lower.
The Koss stock price action bounced off the 78.6% Fibonacci retracement from the swing low of 24 May to the swing high of 2 June 2021. This bounce may allow bulls to target the price range between 26.64 (29 March high) and the 61.8% Fibonacci retracement level at 26.92. Further advance depends on bulls driving price above the 26.64/26.92 range, targeting 30.14 (50% Fibonacci retracement level) and 33.99/34.99 price wall.
On the flip side, further decline depends on price action taking out the support at 22.35, with 20.00 (19 April high), 16.53 and 15.00 serving as additional downside targets.
