HMI -- Spur of the moment
I was going through my homework for today and came across a counter called HMI. This counter has one of the strong percentage gain and went into the top 10 list. So it got me interested.
I opened up the chart for HMI and to my surprise this is a very volatile counter. It is not just the wave as a whole, even on daily basis it contain huge fluctuation. Certainly if I am into this counter, it will give me heart attack.
I first looked at what it did today which turns out to be a very strong push up-ward. Then I move to its past movements and noted that it is definitely not the first time this counter having this kind of spike.
Minus away the movement before 2003 which I would consider time needed for it to stabilize before it starts a life on its own. I think this counter is on the 3 counter wave and likely completing B, it should be going down with C.
The other view however, shows a double bottom in progress and it is completing the second bottom. Its neckline and resistance @ 0.20. This is not so likely for me as I found that the up-ward movement does not come with a 5-wave pattern. The minor counter waves overlap each other.
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