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Thursday, March 28, 2024

Would you buy this stock?

Courtesy of Read the Ticker.

would-you-buy-this-stockThere is evidence that demand is overcoming supply, and a change of behavior is very near.

Symbol: HL
Sector: Silver stock
Name: Hecla Mining Co. (NYSE)

Price is still in a trading range, so the battle of supply (Bears) and demand (Bulls) is not over, but as you can see (right hand side of chart) the waves up (blue dots) are attracting more volume than the waves down (red dots). This is strength and demand overcoming supply. After a strong down move supply does dry up, all those that have sold, are very close to being done! Soon the bulls will have a chance to push prices higher. Look like accumulation, and once accumulation is completed prices can be expected to be marked up. However to be sure that demand has control wait for prices to break over resistance, but do keep this stock on your watch list.

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HL

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote…

..”Being in the market at all times is not the key to profits. Being in the market when there is a clear, unconfused technical signal, and the trader’s judgment is not swayed by emotion, is the method for trading success”..

Richard D Wyckoff

..“How many millionaires do you know who have become wealthy by investing in savings accounts?”..

Robert G Allen

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