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Hingham Institution for Savings (HIFS) Showing Bullish Bias

Hingham Institution for Savings $HIFS has been in a triangle consolidation, but has started to uncoil in May and June.

HIFS Daily Chart

(click to enlarge)

Bulls in Charge:
- Note that throughout that consolidation/triangle, price has held above the 200-day simple moving average (SMA), which is a sign that bulls are still in control. 
- Furthermore, the daily RSI has held above 40 for over a year, which reflects maintenance of the prevailing bullish momentum. 
- Recently, when price started to percolate, it came almost up to $230 a share and fell sharply after that. 
- However, we also saw strong buying around the key support factors: triangle support and 200-day SMA.
- After this whipsaw, it looks like bulls are in charge, and we should anticipate upside to $230 and $240. 

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