PHCC High Tight Bull Flag Breakout? (with a BTTT 5e/8s MAX Buy Today)
PHCC Daily Chart Showing High Tight Bull Flag (IMO):
MACD rising, STO turning back up above 80, OBV rising and above its 30 MA, StochRSI above 80 and turning back up, ROC positive and turning up after a brief pause, and it looks like the medium-term down trendline back to May 22nd might have been broken to upside today. Also, Ken Adams' 8e/10s MA crossover is still in a buy/hold mode, possibly significant considering the 5-day pause in upward momentum.
stockcharts.com[l,a]dacayymy[db][pb50!b200][vc60][iLa12,26,9!Lh14,3!Lg!Lo14!Lm12]
PHCC Hourly Chart Showing Breakout from 5-Day Bull Pennant (or Bull Flag if you don't use the initial candle shadows):
MACD buy signal today (by a sliver), STO buy today, OBV still OK, StochRSI buy today, and get this, a BTTT 5e/8s MAX buy today.
stockcharts.com[l,a]eacayymy[da][pb50!b200][vc60][iLa12,26,9!Lh14,3!Lg!Lo14]
If this is indeed the start of a High Tight Bull Flag breakout, there is considerable gain potential. High Tight Flags are often found at half-mast; i.e., the move from the previous low up to the Flag is often replicated above the Flag. That amounts to a potential 7-pt gain (18 to 25 level) and a potential target of 32. The 200 MA is presently at 32.45 and might provide resistance. IMO the 50 MA won't provide much resistance if this really is a continuation move. Tomorrow will likely tell.
I took a modest long position just before the close at 25.12. Anyone with a mind to follow me in, please use caution. I was actually looking at PHCC for a potential short until I noticed the Flag. I'd wait until today's high is exceeded and some sign of volume coming in.
There is a good description of High Tight Flags at:
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