After being stuck inside an Accumulation Phase late 2022, HAI began 2023 bullish by breaking the consolidation upward.
📗 That's a perfect textbook example of a shift in momentum from bearish to bullish .
The bulls are already in control and we can see HAI making big impulse movements and relatively smaller correction movements trading inside the red rising broadening wedge pattern.
🏹 For the bulls to remain in control from a long-term perspective, we need a break above 0.05 round number.
📉 Meanwhile, if a correction starts, we will be looking for trend-following buy setups as HAI approaches the lower red trendline acting as a non-horizontal support.
So, in my opinion, the HAI price will continue to rise to a level of 6,2 cents (a target for a bull flag ), make a small correction, form new higher lows and higher highs, and continue to rise to a level of 9,8 cents, and probably hit the 2022 high of 16.7 cents until the end of the year 2023.
Which scenario do you think is more likely to happen? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
