SWING IDEA - HOMEFIRST FINANCE COHome First Finance Company (HFFC) , a leading player in the housing finance sector, is flashing signals of a potential swing trade opportunity.
Reasons are listed below :
The stock has repeatedly tested the 860-880 range, breaking through it recently. It's now revisiting this range, suggesting a potential support-turned-resistance dynamic, a classic setup for swing trading.
On the daily timeframe, a bullish engulfing candle has formed, indicating a strong shift towards bullish sentiment. This pattern often signals a potential reversal or continuation of an upward trend.
The 200-day Exponential Moving Average (EMA) is acting as a support level on the daily chart, further bolstering the case for a bullish bias.
The stock is finding support around the 0.5 Fibonacci retracement level, adding another layer of technical support to the bullish thesis.
Home First Finance has been establishing a pattern of constant higher highs, indicating sustained upward momentum and a potential continuation of the current uptrend.
Target - 960 // 1060
StopLoss - daily close below 860
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