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HFY - setup at play

  1. 4,775 Posts.
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    Having a look at the setup at play on the daily - shorter term time frame

    Appreciating that the stock is fairly illiquid, so when it moves it tends to move easy on relatively low volume.

    In the short term i'd want to see price action close back above 8.4c - back above the 15 & 30 day MA levels. This would signal that momentum has shifted back to the positive side.

    Areas of support that are of interest:
    7.8c
    7c

    Areas of over head resistance that will be of interest when price actions interacts:
    8.8c
    9.2c
    10.5c

    Indicators are tracking mainly sideways to slightly negative (stochastics) at present. If price action can break back above 8.4c for a run at the 8.8c / 9.2c resistance then i think we will have a clearer positive positioning evident on all three indicators. MACD is tracking positively, all be it below the 0 control line at present (a little hard to make out due to the price chop) if the jaws can widen and make a move towards the 0 control line, you can expect price action to start to move aggressively.

    Happy to take a starter position here based on some light fundamental analysis. If price action starts to confirm the I will be looking to add pretty quickly TBH.

    hfyd.jpg
    hfydd.jpg
 
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Last
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Change
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Mkt cap ! $5.954M
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1.2¢ 1.2¢ 1.2¢ $3.741K 311.7K

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Price($) Vol. No.
1.3¢ 662934 3
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Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
1.3¢
  Change
0.000 ( 8.33 %)
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Last updated 12.39pm 29/03/2024 ?
HFY (ASX) Chart
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