Don't Ignore This Chart

Hortonworks (HDP) Hears The Howl Of Fresh Highs

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HortonWorks (HDP) had its initial public offering a few years ago. The first year was a sell off, the second year built a base and in May, HDP broke out to fresh 52-week highs for the first time ever. After consolidating around the breakout level of $12.85, this morning HDP broke out from the consolidation.


As technology has been leading for a while, this stock has been climbing since October. It is still just over 50% of the IPO price so there is a considerable distance to get back to the initial price of the offering.

Good trading,
Greg Schnell, CMT, MFTA.

 
Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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