Helium (HNTUSD)
By Thu, Aug 19, 2021
It’s August, and stocks seem to be in “sell in May and go away” mode, but the crypto markets are hot!
Specifically, we are big on today’s Chart of the Week, Helium (HNTUSD).
HNT has tested that resistance level at 21 repeatedly over the last few months, but looks ready to push past it finally.
So long as we are above that 21 level, we are long in HNT with a price target of 30.
Below 21, it’s not officially a breakout and we are just watching.
As always, clearly defined and limited risk, high reward.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
