Swing play
Price is supposed to break out of the descending
channel and also bouncing off the demand and S/R zone.
1st TP for the trade will be $25.10 and then further more.
The fundamentals are very solid on this.
Saw this company while doing research on another stock. The company seems to be turning things around, and it is a fast growing company in China. As for the chart i will wait for the price to go above the 50 sma line to get in. This is definitely in my watchlist.
Massive breakout previously around in July
currently retracing back the pop since that breakout.. Should make its way to 28.50 and then ultimately to the measured move of 33.50
The chart is transforming into a bullish setup, but: the low volume and weak momentum is very concerning.
I would wait to see if we can make a higher low in the coming weeks.
HUYA has been a major winner in 2020 and is now attempting to recover from the September dump.
Factors to consider -
Falling wedge formed and stock within a tight range,
Very Bullish Candle Thursday .
Indictors attempting to reverse.
12, 20, 50 ma's may act as strong resistance .
Support sits at $23.95
There is no long entry until wedge breaks, moving...
This chart is an odd one as it's entirely defined by two ranges - a zone where price is constantly sold off, a zone where it's guaranteed to buy back, and a few levels in the middle that I wouldn't necessarily trust as either support or resistance, which seem to merely be reaction points.
Two conditions I might get into this:
- A convincing exit from the...
