HLS @ 31 Aug 2021
HLS
- Previous analysis was done on 26 Aug -> suggested to wait for successful breakout of strong resistance
- Since then, the stock has retraced all the way down to test the mid-term support
- Today’s price action is first sign of a potential rebound -> but more positive indicators are required
- Some traders may try to use the Support Strategy for entry, but it sometimes pays to be cautious
- strong resistance zone (formed since 2013) at 5.15-5.35 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of strong resistance zone
- Previous analysis was done on 26 Aug -> suggested to wait for successful breakout of strong resistance
- Since then, the stock has retraced all the way down to test the mid-term support
- Today’s price action is first sign of a potential rebound -> but more positive indicators are required
- Some traders may try to use the Support Strategy for entry, but it sometimes pays to be cautious
- strong resistance zone (formed since 2013) at 5.15-5.35 levels
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of strong resistance zone
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