HCH Chart, page-2090

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GeoSciFi

859 Posts.

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15/08/24

12:51

Post #: 75220178
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Originally posted by GmundStables: ↑

Been a while since I posted a chart for HCH, almost pointless! But it's wet crappy day in ADL, so gotta do something.
I do try to balance FA w TA with all my investments. HCH has plenty of FA but the PFS whilst almost finished for 2 years now but still not releasable (??), and water business is months away. So not much to expect, oh, maybe a good Qtrly with $36M in th acc. TA well, it's ugly, don't read on if you're not interested in the negatives.
Side comment: Cu price will struggle for the rest of '24 IMO. Macro events are not favourable either. So the markets and HCH will have headwinds.

HCH SP is in a very long channel from 80 to 130, and the longer it goes the stronger it gets (harder to break). Had one false break out to 160, red line, note the back test to support at 130, then bounced, but failed the second time and down she went.
I am trying to look for the positives, but it is not pretty.
Candles clearly bearish and heading down
RSI still has room to fall
MACD is rollinig over, to the bearish side
Volume is dropping and low.
Targets, well I tried Fib, nothing to see there! So looking at candle supports, 088 has had 3 tags dating back to mid '23, then 078 early'23, then 064 mid '22.
Candles are looking back testing the resent low 088 at a minimum.
So look it's not promising on the TA front, and FA is what we need. For bottom draw now until end '24, for hopefully the PFS and sale of water business, resulting in a T/O by mid '25. Ahhh we can only dream!
All the best. AIMO.

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Appears HCH has seen multiple 78c dumps over the last month (refer to the infamous volume by price bar!) with a few bot tests lower. Looking at the 5 year chart there'd be very few investors that would've bought in below the current SP (or ~1.5c prior to consolidation), so have the current sellers simply capitulated, sold and moved their money to other ventures? Probably not a bad idea as who knows if HCH will deliver a market-positive PFS this year and/or actively move the chess pieces from developer to producer in our lifetimes?

HCH Price at posting: 78.0¢ Sentiment: Hold Disclosure: Held
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