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Fan Yang

HMNY in a Deep Retracement But Could be Pivoting Around 10

Helios & Matheson Analytics $HMNY has been on a rollercoaster ride. It was trading just above 2.00 in September and then jumped up to almost 39 before retreating just as sharply. 

HMNY Daily Chart

(click to enlarge)

Deep Retracement:
- The daily chart shows that price has been falling in just as sharply as it had shot up. 
- But now we are at a key level around 10, which is also a psychological level.
- There is the 78.6% finbonacci retracement level around here. 
- The RSI just tagged 40, and if the market is to maintain that bullish momentum from September.
- Let's see if price indeed gets stick here around 10. I think if it does, we have a bullish bias that can bring it back towards 17, which was a key resistance and high in 2016.

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