HLNG good selling point at around 15 or perhaps 18 even?
HLNG Got a pretty harsh reject at the top of the daily cloud yesterday. But it did leave a gap behind at 15.28 and a big move like that usually get's some sort of counter move (unless fundamentals are at play).
So no selling just yet. I'm looking for the primary trendline (blue) to provide some support and to bring HLNG back up to the recent high, or perhaps even to the first resistance overhead around 18 (however this would put us above the D cloud, which might mean an continuation of the uptrend).
So 3 areas of interest (orange circles);
- Where the price meets the trendline (hopefully we get a bounce)
- The gap at 15.28 (conservative/regular selling point)
- The overhead resistance around 18 (aggressive selling point).
So no selling just yet. I'm looking for the primary trendline (blue) to provide some support and to bring HLNG back up to the recent high, or perhaps even to the first resistance overhead around 18 (however this would put us above the D cloud, which might mean an continuation of the uptrend).
So 3 areas of interest (orange circles);
- Where the price meets the trendline (hopefully we get a bounce)
- The gap at 15.28 (conservative/regular selling point)
- The overhead resistance around 18 (aggressive selling point).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.