Long
HSP breaks above 2010 resistance
HSP is a stock which cropped up on my stock scan at the weekend. It has appeared before but wasn't of interest to me until it clearly broke the 2010 pivot high of $60.49.
The move in December 2014 could well have been a head fake but the hammer/reversal candle on 6th January suggested a continued move to the upside. The resistance-turned-support was almost retested again a a few days later but since then there has been a run of 6 consecutive bullish bars.
Overall HSP has been in a bull trend since early 2013 and has now clearly broken the 2010 high. A more recent trend developed, on the daily, in early November 2014.
I will wait for the trend to become more established (and for earnings to be released on 11th February) but one for my bullish watchlist.
The move in December 2014 could well have been a head fake but the hammer/reversal candle on 6th January suggested a continued move to the upside. The resistance-turned-support was almost retested again a a few days later but since then there has been a run of 6 consecutive bullish bars.
Overall HSP has been in a bull trend since early 2013 and has now clearly broken the 2010 high. A more recent trend developed, on the daily, in early November 2014.
I will wait for the trend to become more established (and for earnings to be released on 11th February) but one for my bullish watchlist.
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Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
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