In the last post I suggested that the breakout may be false due to the earlier breakout of price than RSI but clearly I was wrong on this occasion and HOIL has gone on to break 161p today to form a higher high.
The only issues to bear in mind here are the gap at 170.2p and the fact that it's put on a fair bit without any consolidation. Having said that, it may be a wave 3 since it came from a higher low so it ought to be a strong move if bullish rather than corrective.
Looks good for now but let's see what happens at the gap.
The only issues to bear in mind here are the gap at 170.2p and the fact that it's put on a fair bit without any consolidation. Having said that, it may be a wave 3 since it came from a higher low so it ought to be a strong move if bullish rather than corrective.
Looks good for now but let's see what happens at the gap.