Stock Chart Analysis HMSY

Posted by downtowntrader | 8/14/2007 09:02:00 PM | 2 comments »

Stock Chart Analysis HMSY

HMS Holdings Corp. (Public, NASDAQ:HMSY)

HMSY has been trading in a pretty tight range failing to dip even under the 9 day ema during some pretty weak market days. It looks like it is in the process of developing a bull flag or pennant and the breakout should be a nice one if it can hold up. All time highs are around 36 on this stock and I think it may try and test that if it breaks out.

Good Trading,


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  1. JMJAtlanta // 8:41 PM  

    Hey, let me get your take on YHOO's double-bottom on the weekly

  2. downtowntrader // 9:05 AM  

    It's got a long way to go before it can be called a double bottom. It would have to close over the neckline (about 32) for it to be a confirmed double bottom. There are definitely some reasons to think that it may bottom out in this area though, and at least there is a clean place for a stop. This is about a 50% retrace from the bear market low to recent highs and of course it had a higher weekly high this week. But I expect this would take some time to develop into anything and will have some shakeouts.
    Good Luck,