HLAL - Looking for potential bullish sentiment The price is situated above the Kumo, indicating a bullish trend overall.
The Tenkan-sen is above the Kijun-sen, reinforcing the bullish sentiment.
However, the recent action shows the price attempting to break past the previous high around $53.00, which has acted as resistance.
Recent volume spikes suggest increased interest around the current price levels. A sustained increase in volume is essential for confirming breakout movements.
Buy Entry: Consider entering a long position at or above $52.66 (NT level) with confirmation of a break above this point and strong volume.
Additional Entry: If a pullback occurs, look for a buy at $52.30, where support can potentially hold up.
Place a stop-loss at $51.50, just below the previous swing low and below the Kumo, to protect against unfavorable moves.
Monitor economic news that could influence market sentiment.
This strategy allows participation in potential upside while managing risk based on key support and resistance levels observed in the chart.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
