Trade This Stock For A 18%-32% Potential Return In The Next 3-6 Months
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HashiCorp Inc. (NASDAQ: HCP) seems to be poised for a price surge as per its latest charts. The company provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product; Vault, a secrets management, and data protection product; Consul, an application-centric networking automation; and Nomad, a scheduler and workload orchestrator.
Bullish Indications
#1 Falling Wedge Pattern: As you can see from the daily chart, the stock has been forming a falling wedge pattern for the past few weeks. These are marked as pink color lines. The stock currently looks poised for a breakout from the falling wedge pattern. A falling wedge is a bullish pattern and a breakout from it implies that the stock may move higher in the short term.
#2 MACD Above Signal Line: In the daily chart, the MACD line (light blue color) is currently above the MACD signal line (orange color) which is typically considered bullish.
Click here to see the other six bullish indications and a recommended trade based on the charts.
This post originally appeared at TradesOfTheDay.com.
Category: Options Trading Strategy
