Hosken bullish setup?JSE:HCI printed (the market isn't closed yet) a bigger candle, the body cover's last week's body, and there's a decent amount of volume. Price is trading above key MAs, the MAs are facing up. It could be something.
HCI
HCI Breakout SetupHCI is setting up in a textbook breakout pattern. Big sales growth last few quarters and the stock is up accordingly.
Relative strength is in the 95th percentile, and the stock has held up well even with the recent selloff.
Shares are consolidating, and contractions have shrank from 15% down to 5%. At the same time, volume is contracting - a sign that sellers are sparse, even under the pressure of a mild market selloff.
I have a buy stop set at 115.45. If triggered my stop will be at 109.65 for a risk of 5.0% on the trade.
