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Strategies & Market Trends : Charts for Breakout II
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To: newtrade_dev who wrote (2064)2/23/2004 10:45:13 AM
From: Bob B.   of 8531
 
I played HEC quite a few times last year. There was an upgrade or coverage by someone big guy I believe around that time. When something like that happens and the stock becomes a huge name, it is difficult to read charts. But things have quieted down somewhat since then and this is what I see. It looks like the stock has broken the 50 SMA, but is still above the 50 EMA. I tend to favor the EMA on the 50 day MA. But the SMA on the 10 and 20. It looks like it has support at $1. But if the stock breaks that and finishes below the 50 EMA on two consecutive days, then I think we have some more downside, I would see next area of support around 90 cents, then 75 cents. The stock has huge resistance at $1.30.
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