
Bears might take a more skeptical approach and view the tight action around $65 as a prelude to a breakdown; in light of this I would be looking to use a relatively tight stop and have created a Zignals Trading Idea with a stop at $63.79 (you can get my trading ideas by email by following this link - free registration with Zignals required). Alternatively, set a Zignals Alert for a cross below $63.80. A break of $65 sets up the possibility for a move down to $60 and/or the longest serving trend support line currently just below $55.
Analysts give the stock a 1-year estimate of $74.83 which may suggest the stock has reached its (optimistic?) limit. On June 25th, Auriga USA set a target of $84 when the stock was trading at $74.18. If the stock was able to break $75 then the possibility for a measured move to $85 becomes a possibility.
Should today's action stay mixed then it's likely HTWR will spend another day around $65. However, all this narrow trading sets up tension for a sharp move - one way or the other.
Follow Me on Twitter
Build a Trading Strategy Business in Zignals
Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets, also available through the latest rich internet application for finance, the Zignals MarketPortal or the Zignals Trading Strategy MarketPlace.
Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too.
Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.
JOIN US TODAY - IT'S FREE!