ElPsyKongroo369

Haemonetics Corporation HAE reversal zone & Bullish Bat

Long
NYSE:HAE   Haemonetics Corporation
Been checking out the charts on HAE and looks like we could be in a potential reversal area. From our low in March to our top in April we've reversed to the golden pocket between 61.8% and 78.2%. Now for the Bullish Bat just using the candle bodies to me seems the best because leg B hit the 50% Fib line pretty perfect and thats what you want. As you can see theres still room to dip lower on leg D to hit the 88.6% Fib. But if bullish enough we could start to reverse here. Can see a little bullish divergence on 4hr RSI and MACD

Theres also bullish divergence on the 1hr RSI and MACD.

Now with that said here we have the potential Bullish Bat using the wicks and can see theres still a little ways to go until we get close to the 88.6% Fib line.

Me personally prefer the chart without using the wicks because
1. We hit the 50% Fib perfect
2. Looking back stronger support areas are between $80 & $83

So I believe safest entry targets to be between $79.40 & $83 and stop loss below $74. One could argue now is a good point of entry I'm thinking of entering after waiting to see what the market does in the first couple of hours all depends on your risk tolerance.

1st Target: $95

2nd Target: $100

3rd Target: $105

Thinking of buying the $90 call option exp. 9/18
Good luck and happy trading
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.