SWING IDEA - HOMEFIRST FINANCE CO
Home First Finance Company (HFFC), a leading player in the housing finance sector, is flashing signals of a potential swing trade opportunity.
Reasons are listed below :
Target - 960 // 1060
StopLoss - daily close below 860
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- The stock has repeatedly tested the 860-880 range, breaking through it recently. It's now revisiting this range, suggesting a potential support-turned-resistance dynamic, a classic setup for swing trading.
- On the daily timeframe, a bullish engulfing candle has formed, indicating a strong shift towards bullish sentiment. This pattern often signals a potential reversal or continuation of an upward trend.
- The 200-day Exponential Moving Average (EMA) is acting as a support level on the daily chart, further bolstering the case for a bullish bias.
- The stock is finding support around the 0.5 Fibonacci retracement level, adding another layer of technical support to the bullish thesis.
- Home First Finance has been establishing a pattern of constant higher highs, indicating sustained upward momentum and a potential continuation of the current uptrend.
Target - 960 // 1060
StopLoss - daily close below 860
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade closed: stop reached