Don't Ignore This Chart!

Huntsman (HUN) Pulls Back To Key Support Zone

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Not many stocks have been spared the past few weeks as our major indices have trended lower.  Huntsman Corp (HUN) doubled in a little more than two months, but became very overbought in late April.  Since that time, HUN has fallen 15% and its overbought oscillators have seen relief with the RSI and stochastic now at 44 and 14, respectively.  Volume was quite strong on the breakout above 13.50-13.60 gap resistance and has subsided on the recent selling.  Finally, HUN has tested price support and reached its 50 day SMA for the first time since crossing above it in late February.  Check out the chart:

Happy trading!

Tom

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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