HEG VCP Trade. Pivot currently in progress.Disclaimer: This analysis is posted as my online journal for educational purposes only. This is not a buy call.
As you can see in HEG's chart above, it has risen 291% in 22 weeks and it has now experienced 3 tight contractions C1, C2, C3, with the C4 currently being in progress.
The C2 contraction was half of first, but the C3 was 18.5%. The last contraction C4 now ( the week just started today) seems to be forming in a less than 10% range. (Hopefully this tight range is maintained for the running week.)
Another positive sign is that the pivot range is forming above the centre line of the first contraction.
Contraction's less than 10% in the final contraction means that the stocks supply in the market has diminished considerably and the daily volumes are confirming this with below average numbers.
Whenever a huge demand will occur, it's very likely that the price of HEG could explode.
Will HEG explode or turn out to be dud ?
Will it experience a shakeout of weak hands ?
What are your thoughts ?
Watch this space for updates.
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Disclaimer:
The content provided is my personal experience sharing through technical analysis studies.
The content can only be used for education purposes and is NOT a recommendation for buying or selling stock.
Please consult your financial advisor before making a decision.
Trade at Your Own Risk.
