Stock Chart Analysis HDNG
A friend of mine alerted me to the fact that HDNG should debut very high on the IBD100 this week. It sports 99 EPS and 99 RS ratings which are the highest possible. It could even make number 1 on the list.
Hardinge Inc. (Public, NASDAQ:HDNG)
While HDNG is obviously extended, it is looking like this is a very powerful move. It just cleared a triangle that could also be considered for a measured move higher. The triangle target is around 36. A measured move is estimated as an equal move into the base and then back out. The move to the triangle was about 10-15 points, so a measured move would project to 36-41. Obviously this is speculation, but it could pop if it makes the list. Trade at your own risk.
Good Trading,
Joey
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your friend was right
it's number 2 now :)
friend was wrong since HDNG was already on the list in the top ten the previous week
nope.. it was 12 last week
You probably don't know much about machine tools and Hardinge's place in the US market and their postion around the world. This stock will be at $5.00 a share in six to twelve months. Good Luck.
You're right, I don't know about machine tools, but based on the chart I turned bearish on this in September. Thanks for wishing me luck though.
Joey