InvestingScope

HollyFrontier Corporation: Buy Opportunity on multiple signals.

Long
NYSE:HFC   HollyFrontier Corporation
HFC is currently testing the August 01 High (53.90) and 1D Resistance after a non-stop 15 day bullish sequence that nearly made 1D overbought ( RSI = 72.486, STOCH = 79.880, MACD = 1.560, ADX = 60.274). If we convincingly break above that level then 1D will print the Golden Cross formation (MA50 over MA200).

The same pattern was last seen in 2017 and resulted in a +70% rise on a January 2018 Top. The RSI is also replicating a similar pattern. Based on that we are bullish on this stock aiming on the medium term at 65.00.




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