HAIN bull flag as price approached $120
HAIN had a sticky patch for most of 2014 with a lengthy consolidation lasting from January to September. Since then it has behaved reasonably well with a continuation of the bull trend.
There was a larger-than-expected pullback in October which breached the previous pivot high and the $100 figure - but the daily 50ma just about held as support. Now price looks to be trending well, although the pullbacks (especially of the last bull flag on the daily chart) are deeper than I would like.
I think this stock needs to be given a bit more time to show us what it can do. Volume is also on the low side. But I expect price to continue moving up - albeit a little erratically.
There was a larger-than-expected pullback in October which breached the previous pivot high and the $100 figure - but the daily 50ma just about held as support. Now price looks to be trending well, although the pullbacks (especially of the last bull flag on the daily chart) are deeper than I would like.
I think this stock needs to be given a bit more time to show us what it can do. Volume is also on the low side. But I expect price to continue moving up - albeit a little erratically.