Long
HCN waiting for retest of $80
HCN reached a high in May 2013 (of $80.07) before a very large correction, later that year, followed by a bullish trend throughout 2014.
A few days ago (12th January) price finally broke above $80. Since then volume has also been on the rise - and the bars neutral or bullish. But, as it has taken price 20 months to regain the previous high, I would want to see a retest of $80 (with a pullback or bull flag formation) before considering trading this stock.
A few days ago (12th January) price finally broke above $80. Since then volume has also been on the rise - and the bars neutral or bullish. But, as it has taken price 20 months to regain the previous high, I would want to see a retest of $80 (with a pullback or bull flag formation) before considering trading this stock.
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