HCM II ACQUISITION CORP-CL A (HOND) Stock Technical Analysis
NASDAQ:HOND - Nasdaq - KYG436581063 - Common Stock - Currency: USD
Taking everything into account, HOND scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, HOND is a bad performer.
Besides having an excellent technical rating, HOND also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 11.65, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HOND in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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.
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9.89
When analyzing the support we can see 3 important areas.
- A support zone ranging from 11.10 to 11.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 10.70 to 10.80. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @9.99 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 11.81 to 11.91. This zone is formed by a combination of multiple trend lines 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) | UP | POSITIVE | The current price of HOND is above the rising SMA(50). |
| Relative Strength Index/RSI (14) | 60.51 | 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, although the MACD value is rising. |
| Stochastics (14,3) | 55.1 | NEUTRAL | The Stochastics value for HOND is a neutral value. |
| Average True Range in percent/ATR (20) | 3.38 | MEDIUM VOLATILITY | The ATR as a percentage value for HOND suggests some volalility. |
| Average Directional Index/ADX (14) | 37.79 | POSITIVE | The high ADX value value for HOND suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 11.92 | 11.25 | 0.67 (5.62%) | 17.79% |
| An entry @11.92. This is a Buy Stop order right above the resistance zone. | An exit @11.25. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.67 points, which is 5.62%. | For a 1.00% total portfolio risk, you can invest 17.79% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
11.8
+0.1 (+0.85%)