HLS @ 31 Aug 2021
HLS
- Previous analysis was done on 26 Aug -> suggested to wait for successful breakout of strong resistance
- Since then, the stock has retraced all the way down to test the mid-term support
- Today’s price action is first sign of a potential rebound -> but more positive indicators are required
- Some traders may try to use the Support Strategy for entry, but it sometimes pays to be cautious
- strong resistance zone (formed since 2013) at 5.15-5.35 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of strong resistance zone
- Previous analysis was done on 26 Aug -> suggested to wait for successful breakout of strong resistance
- Since then, the stock has retraced all the way down to test the mid-term support
- Today’s price action is first sign of a potential rebound -> but more positive indicators are required
- Some traders may try to use the Support Strategy for entry, but it sometimes pays to be cautious
- strong resistance zone (formed since 2013) at 5.15-5.35 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of strong resistance zone
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.