Our next trade idea appears to be in an upward channel formation since March of 2015, and the stock recently bounced off of the lower trend line and resumed its move higher. This bullish signal caught our attention, and we believe that a nice trade idea could come out of this stock if traded correctly.
Looking at support levels, the $25.50 - $26.00 level is not only the 200 day moving average (dma), but it is also a static support level. That level also happens to be the lower trend line that we discussed off the top. As such, we would be placing our stop loss level at that point to protect us from any potential weakness in the stock. Looking at resistance, the $28.80 level is the 50 dma as well as a static resistance level. Further up, more resistance comes in at $30.40, followed by top resistance at $33.00. With the stock trading in an upward channel formation, and in an overall uptrend since 2012, we believe that a run back to $33.00 is a strong possibility going forward.
Our trade strategy would be to enter the stock on strength and ride it up to the $33.00 level. If we get weakness tomorrow, we would look to pick up shares closer to the $25.50 level, while also watching that level closely as it also marks our stop loss level on any potential further weakness.
The stock price direction for the day for HTHT is UP. The stock is experiencing a strong uptrend as of late, with an increase of more than 8 percent in the last five days. Based on BullishInvestor.com’s proprietary algorithms, HTHT is currently signalling NEUTRAL.
The most recent Candle Stick pattern for HTHT is the Doji.
There are two possible reasons for the Hold rating currently given to HTHT. The first reason is that there may be indecision among the technical indicators or most of them may be neutral for HTHT. If the stock chart looks flat lined or is in the midst of a trend direction change, most likely this is why HTHT is showing Neutral. If, however the stock is currently in a visible up or down trend, the reason for the Hold may be because the BULLISH or BEARISH rating has already passed.
The last BUY was registered on Feb 08, 2024 when HTHT was trading at $ 31.97. Armed with this knowledge, there may still be some more strength left in this current trend or it may be near a tipping point, the market has not given a clear indication yet.
As such, it may be a wise decision to hold your stock or continue to wait on the sidelines in HTHT until BullishInvestor.com changes the rating for HTHT.