Since the 2020 pandemic-induced market crash, HMSP has finally broken out of its falling wedge pattern. This pattern has been formed for 2 years. This could be a significant buying opportunity for traders since a chart pattern that has formed for a long time tend to make a big move when the price breaks out from its consolidating pattern.
There's a gap in the 2390 - 2690 region that can be used as a target price since a gap in a price chart tends to be filled sooner rather than later.
Buy action can be executed next week when the price has closed above the upper resistance trendline and the 34 weekly EMA.
Set the stop loss just below the swing low at 850.
There's a gap in the 2390 - 2690 region that can be used as a target price since a gap in a price chart tends to be filled sooner rather than later.
Buy action can be executed next week when the price has closed above the upper resistance trendline and the 34 weekly EMA.
Set the stop loss just below the swing low at 850.
Trade active:
I just bought HMSP at an average price of 1035
