Large Conglomerate $HELE Headed for Breakdown after CFO Resigns
Okay, so I was given some information from a mysterious source that $HELE should be shorted because they’ll go bankrupt. While I don’t believe they’ll truly go bankrupt, we may see a large breakdown as they break past some major trendlines.
Being a part of the S&P 400 makes this stock a bit more resilient to change, however with the direction that the S&P 500 is headed as according to my previous posts being south, I don’t think this one is going to see much upwards movement.
On my chart, you’ll see I’ve got a few lines. Let me explain them. Red is a trend line from the previous All Time Low to the Most recent All Time Low. Green is the Tops. These being major points for a stock, if these are to be crossed, usually a lot of momentum is followed in either direction to really accentuate the fact that it’s been crossed.
White is a more recent (within the last 6 months) trendline, creating a semi-macro pennant. As we move forward in time, we may see more testing against it’s top, however…
The Grey lines we see are more recent micro trends, and as we can see it broke south of it’s trend line after failing to break up and away.
Expect to see low 90s high 80s by the end of March for this stock. I’ve currently got a paper trade for this stock for Puts on 15 December 2023 $100. To explain Puts, at least Buying Puts, I reserve the right to sell this stock at this price at that date. If it goes lower, someone who sold me those contracts has to make up the difference. See more information on puts here: bankrate.com/investing/what-are-put-options-learn-basics-buying-selling/
Being a part of the S&P 400 makes this stock a bit more resilient to change, however with the direction that the S&P 500 is headed as according to my previous posts being south, I don’t think this one is going to see much upwards movement.
On my chart, you’ll see I’ve got a few lines. Let me explain them. Red is a trend line from the previous All Time Low to the Most recent All Time Low. Green is the Tops. These being major points for a stock, if these are to be crossed, usually a lot of momentum is followed in either direction to really accentuate the fact that it’s been crossed.
White is a more recent (within the last 6 months) trendline, creating a semi-macro pennant. As we move forward in time, we may see more testing against it’s top, however…
The Grey lines we see are more recent micro trends, and as we can see it broke south of it’s trend line after failing to break up and away.
Expect to see low 90s high 80s by the end of March for this stock. I’ve currently got a paper trade for this stock for Puts on 15 December 2023 $100. To explain Puts, at least Buying Puts, I reserve the right to sell this stock at this price at that date. If it goes lower, someone who sold me those contracts has to make up the difference. See more information on puts here: bankrate.com/investing/what-are-put-options-learn-basics-buying-selling/