ASX:HUM has been in a bear market for last few months after hitting the 1.36$ apogee, it plummeted to the abyss losing almost 30% of the recent high value. But there are signs hidden into the charts that shows it may be ready for another explosive move to the upside. Lets dive right to the technical analysis.
This stock has managed to extricate itself from the...
Strong support at 95c, stronger resistance at $1.35, HUM is a bnpl stock with a great FA sheet behind it but for some reason big sellers keeping it down.
In my opinion if they released their yearly a week before last they would be a $2 stock right now. But they released it at a time fintech stocks were all being whacked down from recent peaks.
HUM is a good long...
I have been monitoring this stock but at the moment I can say that it is was only humming but looking at the chart and on the well known structure (Cup-and-handle), I can say that this stock is about to scream instead of humming. i will keep an eye on it. The only issue it is not hype like other BNPL but it is catching up slowly. we may see a big move in next few...
Technicals - Chart suggests Humm looks ready to jump on the back of the momentum in the BNPL space (ZIP, APT etc).
Looking for a break through resistance with a bullish candle which lilkley results in the resistance becoming strong support. Looks a good risk reward trade.
I believe HUM has finished a combo correction following it's post-rona rise.
It is in the middle of a minute 1 and minuette 2, perfect conditions for a bullish entry.
Projecting a fib ratio of (i) from (ii) gives (iii) a price target of 1.525.
This is an updated analysis from a more in-depth one over on hotcopper, here's the link:
hotcopper.com.au
![HUM: [EW] ASX:HUM Fresh off Minor wave 2](https://s3.tradingview.com/x/xlgGMsIf_mid.png "[EW] ASX:HUM Fresh off Minor wave 2")
