The +8.5% rise in #HYR today might herald a bit of a recovery for this out-of-favour company. The down-trend for #HYR has been pretty relentless since July 2016, but maybe the price has bottomed? I hope so as I bought at 2.3p and would welcome a close above current resistance and a return to 4.72p.
#HYR created a bit of excitement recently when it bounced off support at 2.32p a few days ago, but it has quickly retraced and looks as though it is going to test that level again. I have a buy order near this level as I think it's a company with quite an interesting story and its fortunes appear to be improving as it increases throughput and reduces plant downtime.
A link to other chart showing share price vs wti oil.
Oil has recovered nicely, revenues and sales have doubled but SP has not risen to match as yet.
Reason being that in insti fund is reducing exposure and negating the move, look at volume - Breakout should come and expecting a return to par (wti)