As of close Friday, HIPH was displaying multiple oversold leaning technicals that could be signaling an upcoming bounce.
Here are a few to keep a close eye on:
HIPH is trading above 2 key lines of potential support:
- 50-Day Simple Moving Average
- 100-Day Simple Moving Average
Why is this important? When a profile trades above these 2 lines, traders may gain confidence from these levels holding as potential support for a continued vertical move.
In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range with the 40-50 zone acting as support.
Williams %R: 84%
As the the Williams %R nears the 80% range or higher, this technical indicator may also be viewed as oversold and undervalued.
CCI (-73) A reading below 0 and near -100 suggests that an asset has been oversold and that the price may start moving up.
In recent weeks, HIPH has been on a pullback since a February high of $0.0375. This pullback could be signaling a potential healthy reversal in this profile’s future.
From current levels, that February high provides HIPH with huge upside potential over 500%.
Now, I’m not saying this profile is going to go surging to those levels today, but you need to recognize how much higher HIPH was trading in the recent term.