Huttig Building Products, Inc. (PINK:HBPI) has regained a portion of its value after the company’s stock hit a 52-week low one month ago.
On June 13, HBPI started falling down and three days later it crashed down, making investors witness the stock fall from $0.8 to $0.5 in the blink of an eye. In other words, HBPI lost 37% of its value, bringing the long traders to tears.
In the day that followed, however, the stock was gradually surging up. On the stock chart it is visible that HBPI has been making higher lows, while maintaining a stable resistance level. Thus, a configuration known as ascending triangle has formed on the chart, which can make the short-term investors expect a break out. [BANNER]
The stock candles, however, are still below the 50-MA, which can exert 
some resistance to the bullish formation. The other thing notable is the significantly higher volume in the last couple of days. On Monday, 250 thousand shares of HBPI common stock changed hands, which is eight times higher than the daily average.
On this increased trading activity, HBPI hit a share price of $0.7. Unfortunately, it is not clear what has stirred the market because there has been no news issued by the company. In this respect, whether HBPI will find the strength to reach even higher on the chart, or crash down again, is beyond the vision of the common investor.
