Price on HMST is currently hitting the lower level of the up channel This is a good candidate for a reversal point. This is also supported b the cross on the MACD on this Weekly timeframe Bullish
Critical support must hold or this could be a nice short opportunity.
Homestreet has been very active in the past month, announcing the sale of a loans section and the acquisition of a competitor mic that with the announcement of a share repurchase program it has caught our interest. On 05/04/19 the stock had a 450% increase in average volume.
HMST: HomeStreet, Inc. 2019-04-04 16:43:00 HomeStreet Announces Sale of Home Loan Center-Based Mortgage Origination Business, Sale of Mortgage Servicing Rights, and Share Repurchase Program - Business Wire
It looks oversold but downside momentum is far from over and this bearish head and shoulder could suggest more downside momentum and has a measured move to $18.4 area with stop loss at recent swing high $24.20 area. Join us www.woowtrading.net