Tuesday, 10 January 2017

HFL


Analysis on weekly chart
Technical criteria
Divergence: MACD positive
Volume: In daily chart it is exceptionally high.
Pattern:Rounded bottom, Flat base, H&S
Resistance: Red lines
Target: Every resistance is a target. Most accepted target 65.8



Daily Chart

Comment:
Price reversed from its bottom. Resistance at 29.4 is the main barrier for a long term bull trend. Once failed to break the resistance, it is its 2nd attempt. OBV shows its cumulative positive volume exceptionally high, may get good strength to break this resistance.

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