HELE climbs to highest close since February 21st
Helen of Troy Limited (HELE) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, HELE finished the month 3.65% higher at 188.56 after edging higher $0.34 (0.18%) today, significantly underperforming the S&P 500 (1.54%). Today's close at 188.56 marks the highest recorded closing price since February 21st. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (HELE as at Jun 30, 2020):
Tuesday's trading range has been $3.82 (2.03%), that's far below the last trading month's daily average range of $6.17. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for HELE.
Three candlestick patterns are matching today's price action, the Bearish Doji Star and the Northern Doji which are both known as bearish patterns and one neutral pattern, the Doji. The last time a Doji showed up on April 23rd, HELE gained 5.32% on the following trading day.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.
With prices trading close to this year's high at 198.59, upside momentum might accelerate should the share be able to break out to new highs for the year.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Doji Star" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Helen of. Out of 8 times, HELE closed higher 62.50% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 62.50% with an average market move of 2.85%.