HNST has never seen a monthly higher high.
Breaks of these extreme trends on the monthly timeframe can be volatile intraday - the first touch of the previous month's high is day trading short opportunity, but when they break they can be very fast and cause short squeezes.
I like the business and continue to build a small long term position. But there are no signs of the selling slowing down yet and literally no support at all besides psychological round numbers. I'm keeping my eye on it.
The RSI here is using weekly data because the monthly has none yet using 14 periods.
Breaks of these extreme trends on the monthly timeframe can be volatile intraday - the first touch of the previous month's high is day trading short opportunity, but when they break they can be very fast and cause short squeezes.
I like the business and continue to build a small long term position. But there are no signs of the selling slowing down yet and literally no support at all besides psychological round numbers. I'm keeping my eye on it.
The RSI here is using weekly data because the monthly has none yet using 14 periods.