$HUNPotential "abc zigzag" located after a recent 5 wave to the downside. This abc zig zag could be in the middle of another 5 wave downtred. Regardless, I'm looking for a retracement leg at this location where we just broke a recent support and if this is an abc zigzag within this wave 3 to the downside then maybe we get a wave 4 bounce. Looking for $19.80.
HTR trade ideas
Topping Pattern Example (Head and Shoulders)Hunstman is a chemical manufacturer whose earnings have plummeted over 85% compared to the first half of 2022. The chart is a prime example of a large head & shoulders pattern. Analysts expect its earning to remain depressed and the chart shows signs of Distribution over the past 2 years.
Huntsman Squeezes at Potentially Key LevelChemical maker Huntsman might not be the kind of stock traders often watch, but it has some potentially interesting chart patterns.
First is the level around $33.50, near the highs in November. Prices have been holding it in recent weeks as the broader market tumbled. Is old resistance becoming new support?
Second the current range is turning into a triangle. Also notice how Bollinger Bandwidth has squeezed as movement narrows. Today it’s trying to escape the pattern.
Third, HUN has been consolidating above its 200-day simple moving average (SMA).
Fourth, MACD has started rising this month.
Finally, the stock has limped since an activist-investor raid failed on March 25. But it jumped on strong earnings the last two quarters. Management cited “higher selling prices” for its products in the April 28 release. Inflation isn’t bad news for all companies, it seems.
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HUN, MACD Histogram just turned positiveThis is a Bullish indicator signaling HUN's price could rise from here. Traders may explore going long the stock or buying call options. Tickeron A.I. dvisor identified 49 similar cases where HUN's MACD histogram became positive, and 41 of them led to successful outcomes. Odds of Success: 84%. Current price $23.86 is above $22.85 the highest resistance line found by Tickeron A.I. Throughout the month of 09/03/20 - 10/06/20, the price experienced a +5% Uptrend. During the week of 09/29/20 - 10/06/20, the stock enjoyed a +7% Uptrend growth.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 05, 2020. You may want to consider a long position or call options on HUN as a result. In 63 of 75 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 84%.
The Moving Average Convergence Divergence (MACD) for HUN just turned positive on October 06, 2020. Looking at past instances where HUN's MACD turned positive, the stock continued to rise, Tickeron A.I. shows that in 41 of 49 cases over the following month. The odds of a continued upward trend are 84%.
Following a +6.35% 3-day Advance, the price is estimated to grow further. Considering data from situations where HUN advanced for three days, in 251 of 316 cases, the price rose further within the following month. The odds of a continued upward trend are 79%.
HUN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. Tickeron A.I. detected that in 214 of 262 cases where HUN Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 82%.
HUNTSMAN CORP Analysis Hey traders, HUNTSMAN CORP is in a bullish continuation with a strong buying volume, it is located on the vwap and on a strong trend support. So we have a strong propability to break the vwap in force to reach more than half of the equilibrium zone. So it's going to breakout the area to arrive in a new one and go to the next higher which corresponds to the top of the equilbre zone.
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$HUN daily #chart with potential triple bullish #breakout$HUN stock price has been range trading / consolidating for 12 months inside the purple rectangle (with the exception of 2 failed breakout attempts in FEB and APR 2019)
After the summer bottom around the end of AUG'19 stock has rallied towards the top of the range around 23.81 but failed to breakout and instead started to form an ascending triangle ( dotted black lines )
Company posted earnings in late OCT'19 and since then the price is trading inside a symmetrical triangle (blue lines)
As seen on the chart the price will reach the tip of both triangles soon, so watch the stock for a potential BREAKOUT AND CLOSE above the resistance line at 23.81
Targets are as follows:
T1 - 26.85 measured move from the symmetrical triangle
T2 - 29.13 measured move from the ascending triangle
T3 - 30.04 measured move from the rectangle
As a side anecdote GS just upgraded the stock to strong BUY and 29.00 target, so don't know if is good or bad :)
Good luck,
TA
Potential breakdown!!!NYSE:HUN Let it test the support around 20.45 area, come back up and short on the way down, as I've drawn on the chart.
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Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.