HSIC Bounces Resistance/SupportThis morning, the first trading day of 2023, I ran my S&P 500 spike scan like every morning. The spikes were skewed heavily to the bearish side with 99 Bearish Spikes and only 1 Bullish Spike. That spike was HSIC NASDAQ:HSIC . I like the context of this price action happening at the 50% Retracement of the bear move from the All Time High down to the October Low. Price recaptured and broke above the 78.72 Retracement Level and has now pulled back to test it as Support.
The 30m timeframe on Tradingview does not show the spike but the low of this morning's open was 78.70. This low can define the low risk for a 30 minute timeframe entry to play the broader move on the Daily timeframe to retest the ATH.
