Holly Frontier Corporation
Bullish divergence on Weekly and Daily
Weekly
To be precise, it’s not a pure divergence. Prices dit not really go lower then the previous bottom. But in light of the global market recovery and the hard hits that the Energy sector went through, it is likely that it will at least pullback during these bullish developments we’re seeing...
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...
