Stock Chart Analysis HLYS

Posted by downtowntrader | 7/15/2007 06:58:00 PM | 0 comments »

Stock Chart Analysis HLYS

Heelys, Inc. (Public, NASDAQ:HLYS)

Funny that upon my return from vacation, and with the bullish moves from last week, I begin with three short setups. While I think the recent breakouts are valid, I am preparing for the fact that this week could be a consolidation / pullback week and will be looking at both long and short setups. HLYS was expected to be a hot IPO recently and now 7 months later it is trading almost 20% under it's first closing price. It just broke under an important price level and is attempting to break back over it. If it fails, it more then likely will revisit all time lows. That could force the hands of traders who made a bet that this was the next CROX.

Good Trading,


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