Looks good to 35.44. Wait to see how it handles that area. Bounced off 50 day. 50 recently crossed over a flat 100. MACD curling up. I'd really like to see 100 day start to curl up.
HAL has shown some nice strength this month, but what goes up must eventually come down. The long term trend is still downward biased. We are reaching extreme overbought levels on the daily and hourly. I'm looking for a nice reversal candle into next week to take a short entry. As always, use caution.
This is an outline for a model for a price pattern that I found back in 1990 while I was the technical analyst for a Wall Street Institutional Brokerage Firm. I simply called it "The Point of Maximum Pessimism" because this progression of price action just seems to create the psychology that is present at a major market bottom. I just stumbled onto this chart...
