HIMATSEIDE Trade set up with 17R
Himatsingka Seide Ltd (HIMATSEIDE) has shown strong bullish price action recently. The stock closed at 183.95 on February 4, 2025, which is 20.47% below its 52-week high of 231.30 set on December 11, 20243. The stock has been exhibiting positive momentum with several bullish indicators:
Breakout: HIMATSEIDE has shown a rounding bottom breakout, indicating potential for significant upside12.
Volume: The stock has been trading with rising price and increasing volume, signaling strong buying interest4.
Technical indicators:
The stock has made a new six-month high with good volume.
It has shown a positive breakout from Keltner Bands, MA Envelope Bands, and Bollinger Bands.
The MACD indicator shows a bullish crossover and is sustaining above the signal line.
Trend strength: The Average Directional Index (ADX) indicates a nice uptrend.
Momentum: Both Slow Stochastic and Money Flow Index (MFI) are in overbought territory, but the uptrend appears strong, suggesting potential for further upward momentum.
However, investors should note that the stock's PE ratio of 21.09 is considered high, and its P/B ratio of 1.27 is also on the higher side. Additionally, historical data shows that HIMATSEIDE has given negative returns in February for 20 out of 26 years, with an average negative change of -7.06%.
Given these factors, while the current price action is bullish, investors should carefully consider the potential risks and historical performance before making investment decisions.
Breakout: HIMATSEIDE has shown a rounding bottom breakout, indicating potential for significant upside12.
Volume: The stock has been trading with rising price and increasing volume, signaling strong buying interest4.
Technical indicators:
The stock has made a new six-month high with good volume.
It has shown a positive breakout from Keltner Bands, MA Envelope Bands, and Bollinger Bands.
The MACD indicator shows a bullish crossover and is sustaining above the signal line.
Trend strength: The Average Directional Index (ADX) indicates a nice uptrend.
Momentum: Both Slow Stochastic and Money Flow Index (MFI) are in overbought territory, but the uptrend appears strong, suggesting potential for further upward momentum.
However, investors should note that the stock's PE ratio of 21.09 is considered high, and its P/B ratio of 1.27 is also on the higher side. Additionally, historical data shows that HIMATSEIDE has given negative returns in February for 20 out of 26 years, with an average negative change of -7.06%.
Given these factors, while the current price action is bullish, investors should carefully consider the potential risks and historical performance before making investment decisions.
Penafian
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