Technical Analysis of Hexcel Corp (HXL)
By Yaser Anwar, CSC of Equity Investment Ideas
HXL is in a stage 4 downtrend on its daily chart, making lower pivot highs and lower lows while trending under its Declining 20 Period Moving Average (20-day MA). The stock has been consolidating in a sideways base. Investors should look to sell short a PBD of the most recent set of lows.
Trading Strategy- Look to sell short HXL if it trades under 14.00, placing your stop above 14.78. Look for a $1.00 to $1.75 move.
Note HXL has traded under a previous pivot low on its monthly chart, ending its previous longer-term uptrend.
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HXL is in a stage 4 downtrend on its daily chart, making lower pivot highs and lower lows while trending under its Declining 20 Period Moving Average (20-day MA). The stock has been consolidating in a sideways base. Investors should look to sell short a PBD of the most recent set of lows.
Trading Strategy- Look to sell short HXL if it trades under 14.00, placing your stop above 14.78. Look for a $1.00 to $1.75 move.
Note HXL has traded under a previous pivot low on its monthly chart, ending its previous longer-term uptrend.
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 4:54 AM
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