Bearish potential detected for HDNDetected 31-May (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 31-May.
ASX:HDN represents a potential bearish opportunity should momentum continue and newer lows be made.
Entry conditions:
(i) lower share price along with swing up of bearish DMI indicator and swing down in RSI.
Stop loss for the trade would be:
(i) above the support/resistance level from the open of 5th June (i.e.: above $1.225), or
(i) above the support/resistance level from the open of 9th April (i.e.: above $1.26), depending on risk tolerance.