HOIL daily 27/06/13
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Clearly, HOIL's last attempt to break out of its downtrend failed but it's having another go today.
As before, I'm looking for the RSI to close above its downtrend resistance, preferably before the price actually breaks out. There's still a higher low in play so a breakout ought to follow through if it occurs from here. There was also an inside bar yesterday so there's a few things pointing towards a move here.
I'll go long if it closes like this with a stop below the higher low of 127.5p.
As before, I'm looking for the RSI to close above its downtrend resistance, preferably before the price actually breaks out. There's still a higher low in play so a breakout ought to follow through if it occurs from here. There was also an inside bar yesterday so there's a few things pointing towards a move here.
I'll go long if it closes like this with a stop below the higher low of 127.5p.
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