HCM II ACQUISITION CORP-CL A (HOND) Stock Technical Analysis
NASDAQ:HOND - KYG436581063 - Common Stock
We assign a technical rating of 5 out of 10 to HOND. Although HOND is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
HOND has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 10.98, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
10.40
When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.80 to 10.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @10.50 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 11.58 to 11.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for HOND is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HOND is up. |
| ChartMill Relative Strength | 0 | NEGATIVE | HOND has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HOND is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of HOND is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of HOND is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.73 | NEUTRAL | The RSI value for HOND is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests HOND has a negative trend. |
| Stochastics (14,3) | 31.47 | NEUTRAL | The Stochastics value for HOND is a neutral value. |
| Average True Range in percent/ATR (20) | 2.66 | MEDIUM VOLATILITY | The ATR as a percentage value for HOND suggests some volalility. |
| Average Directional Index/ADX (14) | 35.61 | POSITIVE | The high ADX value value for HOND suggests a strong trend. |
11.5
-0.01 (-0.09%)