Hello Traders from around the Planet. How are you?! I hope you are doing marvelous.
I’ve got another stock review for you. I was talking with my good buddy Aubrey this weekend in New Orleans and this is a stock that came up. He was approaching it more from a fundamental side. Now, it’s my turn with the technicals.
It’s IPO was only just a couple of years ago, back in late 2014. It had a very strong demand price at the $35.51 area after its IPO. That price got broken in August 2015 with quite the bearish earnings gap, until it traded into its $24 low.
On a weekly perspective, it shows this might be a decent inverted head and shoulders pattern, with that important $35.51 price being the neck line or close to it.
Potential upside, based on the technical chart would be $40.79 and then $49.52. I am not quite sure how far HYH will pull back in the upcoming weeks, but this week could be a nice time to buy with a stop loss placed around $32.26.
The daily chart is showing a nice bullish trend also and if one doesn’t want to buy stock right away, or if that investor wants it at a better price, the $35 put sale goes for .40 at the bid right now. A pretty reasonable offer with potential of getting more from a limit sell.
Either way, Halyard Health is one I’m keeping my eyes on for both the short and long term.
Have an amazing week and I’ll see you soon! Until then, remember, Love Life, Live Life and Trade it!
