HOKU has had a nice run since mid-June. After topping up last week, we've had a 50% retracement of the last leg up. Today's hammer closed on the rising 10 DMA and could foreshadow a reversal back up. Support levels include the gap between the two blue lines, followed by the $10.00 pivot point (green line). This week's retracement was on declining volume which bodes well for a retracement versus a reversal.It will be important to monitor price and volume on the next leg up - a lower high would signify a prolonged consolidation or possible reversal.
Q2 earnings are scheduled for July 24th AH and, will no doubt have an impact on share price going forward.
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