On January 12th of 2018 the price of HPB was at a high of $13.62. More than a year later, on February 8th the price of HPB came to a low of $0.16. After a big decline, HPB only needed 55 days to spike 410% from the lows in February. A healthy retrace occurred and old resistance became new support. On the daily time frame HPB made a beautiful hammer on the support line, indicating a reversal move.
- RSI is in a rising line
- HPB is making the first higher low
- Support resistance flip
- Hammer candle on the support line
- Volume increasing
- Buy the candle after the hammer. Get out of the trade if a day candle close below the wick of the hammer. Target is previous high or big resistance line
- Wait until HPB has a stronger market structure if it makes a new higher high and higher low. Buy around the low.