Hatten Land (“Hatten”) has been trading in a tight range $0.192 – 0.210 for the past two months. Recently, there seems to be a pick up in the volume traded for the past two days.
Hatten’s chart looks positive on several fronts.
Based on Chart 1 below, odds seem high that Hatten may be poised to breach above $0.210 in the next couple of months. This is because
a) The recent price increase (albeit mild price increase) is accompanied with volume. On the days which Hatten falls, it is accompanied with lower than average volume;
b) A potential double bottom formation seems to be in the midst of formation with the neckline at $0.210. Indicators such as RSI and MACD have strengthened.
c) Notwithstanding Hatten’s sideways trading for the past two months, its OBV has been strengthening which may be indicative of smart …