Previously, I noted that HUN appeared to be forming a "reverse Head & Shoulders" pattern, with a neckline just below $16.50.
The stock proceeded to break out above that neckline, supported by improving fundamentals in the company's Titanium Dioxide business.
After a classic post-breakout pullback to the up-sloping trendline in September, and another nearly two months of further consolidation and base-building near the neckline, the shares last week broke out into new high territory and appear to have put in place a very clear uptrend (as they would say in Edwards & Magee) "of unknown scope and duration"
The stock proceeded to break out above that neckline, supported by improving fundamentals in the company's Titanium Dioxide business.
After a classic post-breakout pullback to the up-sloping trendline in September, and another nearly two months of further consolidation and base-building near the neckline, the shares last week broke out into new high territory and appear to have put in place a very clear uptrend (as they would say in Edwards & Magee) "of unknown scope and duration"
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.