Potential rebound.
HHC price converging to:
1) Fib retracement at .618
2) Major upward trendline (purple)
3) 200 MA on the daily
4) RSI bottoming. Look for another red candle close below July 8th price and compare RSI for bullish divergence. Hourly RSI does show bullish divergence.
5) Support level at around ~$90
Other indicators show oversold conditions.
Confirmation would be a breakout above the downward trendline.
Target price would be the 50SMA, but earnings is coming out Aug 9th so it depends on how earnings season plays out.
HHC price converging to:
1) Fib retracement at .618
2) Major upward trendline (purple)
3) 200 MA on the daily
4) RSI bottoming. Look for another red candle close below July 8th price and compare RSI for bullish divergence. Hourly RSI does show bullish divergence.
5) Support level at around ~$90
Other indicators show oversold conditions.
Confirmation would be a breakout above the downward trendline.
Target price would be the 50SMA, but earnings is coming out Aug 9th so it depends on how earnings season plays out.