HLS @ 21 OCT 2021Text me if you have any questions/comments for me.
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HLS
- Previous analysis was done on 19 Sep (red arrow) -> recommended waiting for successful breakout of counter-trendline (purple dotted line) at around 4.90 levels before plotting entry if comfortable with strong overhead resistance zone
- Since then, the stock flirted with the support (blue dash line) before today gapping up and tried to breakout
- Stock briefly hit a high of 4.91 before quickly retracing below the resistance with above average volume
- Stock doesn’t have a history of long tails above the candle -> Today’s False Breakout is unusual
- If the stock can rise above today’s high (4.92 or above), it would present a better buying opportunity
- R is borderline 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline before plotting entry if comfortable with strong overhead resistance zone
