7 Apr 2021 ● 01:51 PM
HUDCO [housing and urban development corp], has an interesting chart. I am discussing this because of the classic head and shoulders bottom setup. Note the volumes after the head and into the breakout from the neckline. The meaningful decline in price before the left shoulder is important before we call the pattern classic. The blue neckline was at 35, but now the yellow trendline at 43 is the immediate support level and if that holds we may attempt to go to the top end of the channel near 78. the recent high was at 55 and is the immediate resistance.