HO.FR: possibility to purchasing on trend

14.03.2017 / 13:34

Rating:

Date: 14.03.2017
Instrument: HO.FR
Timeframe: D1

The price is in long uptrend, currently corrected to levels of diagonal support. Earlier, the price is corrected to 23.6% Fibonacci retracement, as has discouraged sharply from the area. The price has formed inverted Head & Shoulders which has been activated and is currently testing Neckline.

The company is in the sector of industrial goods such as is specialized in the production of goods and defense products used in space projects worldwide.
The financial results of the company grow every year over the past four years and the main financial indicators such as sales revenue, net income and EPS have increased steadily.

Price Action: today at the start of the European trading session, the price make a GAP when opens up and continues to rise.

Indicators: CCI(14) crossed below -100 to above - a positive signal for further upward movement. CCI(50) crosses the 0 from below to above - a signal of a new upward wave.

50SMA above 200SMA - a positive frame of average supporting long-term upward trend.

SL: 87.10

Alternative scenario: If the price crosses and remain below the diagonal support, it will spoil the positive sentiment and most likely we will see a decline in the share price.

Jr_Trader_P_Milanov

Varchev Traders

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HO.FR: possibility to purchasing on trend

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