Hilltop Holdings Bank: Bearish Cypher w/Double PPO ConfirmationHilltop Holdings has formed a W-shape, which I thought would complete an 0.886 and become a Bearish Shark, but it has since given 2-3 PPO Confirmation Circles around the 0.786 retrace instead. In addition, it has confirmed a lot of RSI Bearish Divergence within this zone; for that reason, I see a strong possibility that this ends up being a Bearish Cypher instead of a Bearish Shark and given that it is a bank, it will probably end up performing dramatically.
I will likely be looking into FAZ soon (The inverse ETF for the Financials sector) as it's sitting at the PCZ of a Bullish Gartley but just hasn't given any form of confirmation yet.
HTH trade ideas
HTH bounced back from the double top necklineNYSE:HTH price action is showing bullish signs, the stock traded around the neckline of the double top and is finding good support at 200 MA. Although the stock may still break down below the neckline, there is a higher chance it will head higher especially that the stock is fundamentally solid. Any pullback towards the 200 MA is a buy opportunity to target 39$ with a tight stop loss daily close below 31$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
Happy Trading!
Perfect Entry on HTHI wanted to see how HTH reacted when faced with its Fibonacci Support and from the looks of it, it showed it has room for bullishness. The squeeze indicator indicated a decline in selling momentum with an additional oversold indication given by the Oscillator. I would swing this stock all the way up to 35-37.
Bullish Signals
-Fibonacci Support Bounce
-Oversold via oscillator
-Squeeze
Price Targets
-1st 35
-2nd 37
$HTH Hilltop Holdings trade set upEntry level $25.75 = Target price $26.59 = Stop loss $25.49
Analysts price target $27.60 | Overweight
Yield 1.25%
P/E ratio 11.73
Company profile
Hilltop Holdings, Inc. is a financial holding company, which engages in the provision of business and consumer banking services through PlainsCapital Bank. It operates through the following segments: Banking, Broker-Dealer, Mortgage Origination and Insurance. The Banking segment includes business banking, personal banking, wealth and investment management. The Broker-Dealer segment includes the following lines of business: public finance, capital markets, retail, structured finance, clearing services and securities lending. The Mortgage Origination segment, through the Bank's subsidiary, PrimeLending, handles loan processing, underwriting and closings in-house. The Insurance segment operates through NLC, which provides fire and limited homeowners insurance for low value dwellings and manufactured homes. The company was founded in 1998 and is headquartered in Dallas, TX.