Can $HRMY break historical resistance once again?
Notes:
* Steady up trend on all time frames
* Okay earnings track record
* Trying to break above historical resistance of the ~52.8 area
* Pulled back to the 50 day line
* Printed a bullish outside day in the last session
* Earnings report reaction sold off to the 50 day but bounce from there indicating demand around the $50.34 area
Technicals:
Sector: Healthcare - Biotechnology
Relative Strength vs. Sector: 17.65
Relative Strength vs. SP500: 41.59
U/D Ratio: 0.96
Base Depth: 70.33%
Distance from breakout buy point: -8.1%
Volume 8.87% above its 15 day avg.
Trade Idea:
* You can enter now as volume comes in after the earnings report reaction
* If you want a better entry you can find one around the $51.7 area
* If you want a safer entry you can wait for a clear break/hold above the ~52.8 area as that is historical resistance.
* This stock usually has local tops when the price closes around 16.84% above its 50 EMA
* Consider selling into strength if the price closes 16.64% to 17.04% (or higher) above its 50 EMA
* The last closing price is 5.44% away from its 50 EMA
* Steady up trend on all time frames
* Okay earnings track record
* Trying to break above historical resistance of the ~52.8 area
* Pulled back to the 50 day line
* Printed a bullish outside day in the last session
* Earnings report reaction sold off to the 50 day but bounce from there indicating demand around the $50.34 area
Technicals:
Sector: Healthcare - Biotechnology
Relative Strength vs. Sector: 17.65
Relative Strength vs. SP500: 41.59
U/D Ratio: 0.96
Base Depth: 70.33%
Distance from breakout buy point: -8.1%
Volume 8.87% above its 15 day avg.
Trade Idea:
* You can enter now as volume comes in after the earnings report reaction
* If you want a better entry you can find one around the $51.7 area
* If you want a safer entry you can wait for a clear break/hold above the ~52.8 area as that is historical resistance.
* This stock usually has local tops when the price closes around 16.84% above its 50 EMA
* Consider selling into strength if the price closes 16.64% to 17.04% (or higher) above its 50 EMA
* The last closing price is 5.44% away from its 50 EMA
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