Tuesday, September 27, 2016

Recommended, Top Performing Stock (5): Huttig Building Products

Huttig Building Products stock (NASDAQ:HBP) is bullish in the long-term, but neutral in the near-term. The market is generally in an uptrend, and so, the current consolidation in the market is just another opportunity for bulls to find some breath before they continue pushing price upwards.

Price has gone above the upper Trendline. A movement below the upper Trendline would show further southwards correction, but in case price continues to stay above it, it would show that bulls are still willing to push price upwards.

The RSI period 14 is flat right now, but when momentum returns to the market, it would go above the level 50 and start sloping upwards. Huttig Building Products may reach the supply levels at 6.00, 7.00 and 8.00 very soon.     

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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