In trading you need an edge and a catalyst - is HCAT it?

2024年9月5日

HCAT has been trending down all of 2024. Late July price pushed up on the descending trendline from below, pushing it back down. After a bumpy period, it is yet again pushing the trendline. For 2024, price is forming a descending triangle, which is a bearish signal. However, from April, we see a rising trend. As part of this, we had a change of character mid July, and price is now moving towards the upper level of this channel. It was breached yesterday, closing on the dot of the upper trend line.

HCAT provides data and analytics technology to healthcare and have recently (as every other data related company) jacked up their AI investments. The company has made a couple acquisitions in the AI area, a sign they are investing in this area. They recently beat market expectations in their earnings report. Market cap is low, 446 million, and the stock is down 36% last year. I believe this company is well-positioned for future growth, however maybe not in the short term. My target is $9.00. There is resistance at $8.00, which I believe will be broken, and $10.00. Year high of $11.27 is stronger resistance.

2024年9月18日

交易進行

Resistance at $8.00 broken, continuing on towards $9.00.

2024年9月26日

註釋

$9.00 has been broken, price behaving as predicted, onwards to $10.00.

2024年12月21日

交易結束：達到停損點