Helen of Troy Prepping to Launch Another Ship

• Posted by Greg Harmon
• on December 23rd, 2013

Helen of Troy was the Daughter of Zeus, King of the Gods, and considered to be the most beautiful woman in the world and her abduction was said to cause the Trojan War. She was the face that launched 1000 ships. That is quite a history to bear. But it has no link what so ever to the company that sells housewares, home healthcare and personal care products. Well maybe it does. The chart of the stock price of Helen of Troy ($HELE) has been moving higher since the market began its latest rally in November 2012. When stocks like this consolidate it is time to prepare for an entry. And this is just

such a time. Currently testing resistance at 49.40, it has a Measured Move higher to 51 on a break over the top to get things reignited. The 3-box reversal Point and Figure chart suggests it has a lot further to run from there, with a price objective at 57. The MACD is turning higher and crossed up to support the bull case, but the RSI is not there yet, holding bullish but not rising. Watch for the break higher to get in with a stop under 48.50 for a tightly defined risk trade.

____________________________________________________________________________________________________

Want to learn more about Dragonfly Capital Views?

Dragonfly Capital Views Performance Through December 2013 Expiry and sign up here for the free 7 day trial before you pay.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus