Thursday, December 29, 2016

New signals for December 29 $HAS

Hey everyone,

During the holidays stock market activity does feel a bit slower (although yesterday we some major distribution among several stocks, $NVDA being one of them). My algorithm has not posted any signal in the last few sessions.

However, a new Sell signal has been posted this morning for $HAS (closed at $77.62 last night).

The stock has been a darling for most of 2016 and has peaked at $87.96 but has since been a major downtrend and is currently down some 12% from that level.
It would appear from the chart that the stock can still go much lower, and perhaps return to where it started 2016 around $66. But before that, $HAS will need to cross under the $70 price level, which seems to have some resistance.

I would definitely not buy here, and would probably not enter Short either, perhaps on a recovery to the upside.

To see general results of the algorithm click here.
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