$HMHC / Long
BULLISH
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line and trending up.
Significant bar on earnings (+22%) on slightly above average volume.
Price gapped up after earnings and has been correcting for the last 29 trading days (around 6 weeks).
The correction has seen price move through a Downward Sloping Price Channel / Double Bottom.
Price has tested the top of the prior base and found support.
There was a shakeout on December 20th. Volume was light and price recovered closing +0.86%.
The shakeout also confirmed a tight zone suggesting there was little supply coming to the market and no institutional selling.
Price has moved up and out of the DSPC on volume. Price followed through and has since tightened up. A second tight zone has been confirmed and with it confirming the pivot buy point.
Volume in the tight zone has been over 48% below average.
The last bar has hammer esq qualities making it actionable through the pivot.
BEARISH
There is OH supply to the left.
Price is yet to reclaim the ATR zero line.
Is in a Stage 2 uptrend with price above a rising 30W MA.
Relative Strength is above its zero line and trending up.
Significant bar on earnings (+22%) on slightly above average volume.
Price gapped up after earnings and has been correcting for the last 29 trading days (around 6 weeks).
The correction has seen price move through a Downward Sloping Price Channel / Double Bottom.
Price has tested the top of the prior base and found support.
There was a shakeout on December 20th. Volume was light and price recovered closing +0.86%.
The shakeout also confirmed a tight zone suggesting there was little supply coming to the market and no institutional selling.
Price has moved up and out of the DSPC on volume. Price followed through and has since tightened up. A second tight zone has been confirmed and with it confirming the pivot buy point.
Volume in the tight zone has been over 48% below average.
The last bar has hammer esq qualities making it actionable through the pivot.
BEARISH
There is OH supply to the left.
Price is yet to reclaim the ATR zero line.
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