HOUSE consolidating inside a triangle

It seems that HOUSE is consolidating inside a triangle with base around 8.0 per share. A backup support could also be seen at 38.2% Fibonacci Retracement level or 7.90 per share. Since we are at the base of the triangle we can make a test buy and speculate that it will break from the slope.

Ichimoku system is telling us that HOUSE is still in a bullish mood. The Kijun Sen line that was moving horizontally last week is not a threat anymore as it bent upward. A slight change from the stock’s momentum was seen today but is it enough to drive the bears away?

RSI or Relative Strength Index is at 49

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

One Response to HOUSE consolidating inside a triangle

  1. […] was last July 1 when we saw HOUSE consolidate inside a triangle but the bear’s power is greater than the bull’s. Price went down and is currently near […]

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