Here’s a stock that might be interesting for short-term traders and Swing traders. It has already shot up by 20% from the bottom, even showing signs of Accumulation Phase.
If the Accumulation Phase is successful, stock prices could rally further.
HLE Glasscoat, also known as Swiss Glasscoat, is a small cap company, a leading manufacturer of process equipment for the chemical and pharmaceutical industries.
After consistently witnessing Bearish sentiment from the beginning of Oct 2021, HLE Glasscoat stock prices are showing strong upside momentum from last 2 -3 days.
Take a look at the Price Action Analysis on 2h Timeframe…
Price Action showing the Signs of Accumulation Phase
If you see the chart, we can notice a nice structural range and certain signs of Accumulation Phase. In case if you’re not sure what an Accumulation Phase is, checkout the video link given below at last..
Apart from that, we can also see how the volume just went up all of a sudden, without any precursors. It could either be an indication of Insider trading or manipulation.
If the Accumulation phase is successful, prices might shoot to the resistance at 4000.
On the other hand, if the Accumulation phase ends up as a failure, prices would retest the support at 3100.
It’s a very volatile stock, so the trade has a potential risk – reward. If you’re planning to consider this opportunity, make sure to focus on proper risk management.
Watch the Price Action and trade accordingly.
