Broken outside of the current sideway trend to make newer highI followed the sideway uptrend moving channel only to see it break rather than retrace and correct itself. Following a similar pattern, with room on the stochastic, could lead to a fluctuating price, but with the bullish sentiment, I could see a rise to closing in on the high 100s and reaching new highs closing at 200.
HLNE trade ideas
$HLNE forming 5 month #Rectangle #ChartPatternThe stock attempted to close above $75 and head into ATH territories but failed to do so on multiple occasions. The stock has now formed a 5 month trading range with $61.50 acting as support that has been tested 5 times. Selling volume has been heavy in recent days and the stock has closed below 200 MA 8 out of the last 9 sessions. A clear daily close below $61.50 would confirm the 5 month reversal rectangle chart pattern with price target down to around $46.