$HWM is forming a nice pivot. Can it move higher from here?

27 thg 7, 2022

Notes:
* Strong up trend since 2020
* Great earnings in the recent quarters
* Basing for the past ~14 months
* Recently bounced off historical highs around $31
* Forming a nice and tight pivot area around $35
* Offering a very low risk entry
* Showing signs of strength and accumulation

Technicals:
Sector: Industrials - Specialty Industrial Machinery
Relative Strength vs. Sector: 1.33
Relative Strength vs. SP500: 1.31
U/D Ratio: 1.74
Base Depth: 33.89%
Distance from breakout buy point: -4.99%
Volume 8.49% above its 15 day avg.

Trade Idea:
* You can enter now as it's trying to break above the $35 resistance level
* Or you can wait for a clear break above it before entering
* If you're looking for a lower entry you may find one around the $34.3 area as that's the bottom of the tight range

* This stock usually has local tops when the price closes around 10.23% above its 50 EMA
* Consider selling into strength if the price closes 10.03% to 10.43% (or higher) above its 50 EMA
* The last closing price is 3.69% away from its 50 EMA