mwanahisa wrote:Actually, I think that 30 might turn out to be resistance. If it pulls back at least it will have shown you where it can get to. The last time HF rallied it got to about 27 and then there was a selloff.
It is realizing higher highs while not pulling back to previous lows. And volumes on the bid side are pretty good. Though, I am no expert at TA, I think that is reflective of a bullish trend.
I had predicted that 30 would be resistance for HF and even though it even traded at a high of 32, it soon retreated. It is however worth noting that it has not sunk to where it started the upwards climb (at least not yet).
I have been watching it the last few days and I think it may stabilise at current levels and then resume its bullish trend. I have actually been buying the last few days and am still seeking to add more. I had lightened up considerably earlier. I am now waiting to see whether I will be vindicated.
DISCLAIMER.
I have a sizeable position on this counter so I have a positive bias for the counter.