HOIL has finally had the RSI breakout I've been waiting for but, perversely, I'm not convinced by it. This is because it came on a down day and it wasn't prior to a price breakout. In my experience, this often leads to false breakouts so despite the apparent higher low, I'd prefer to wait to see what happens at the key 161p level.
There's also a gap at 170p to beware too.
Having said all that, there is a support not far from Friday's closing price at 127.5p so a long from here with a stop below that may represent good risk/reward.
There's also a gap at 170p to beware too.
Having said all that, there is a support not far from Friday's closing price at 127.5p so a long from here with a stop below that may represent good risk/reward.