Each week at ChartSmarter we like to bring to a little insight into what we do on a daily basis. We have been at it for 5 years and we love doing it. Each night we detail 7 to 8 of our favorite ideas, both long and short, for the next days session. We do NOT have a chat room, nor are we active “tweeters”. We like our business growing by word of mouth. For those who would like to see a full copy of our Monday Game Plan, email me at chartsmarterblog@gmail.com.
HAIN was originally profiled in our Tuesday 4/28 Game Plan with an entry at the round 60 handle that session or if one wanted to be more patient at the 59.56 cup base pivot that was retested on 5/6. That day it recorded a “sweet” reversal, pun intended, and now lies more than 10% higher from the original trigger.
Stocks that can be bought at the round numbers are HAIN. HAIN is a best of breed food name that is higher by 4% YTD and 43% over the last one year period (stock split 2:1 late last December). The stock has beat earnings estimates four consecutive times, a testament to excellent management, higher by 5.4, 2.1, 11 and 4.2% on 2/4, 11/6, 8/20 and 5/8. HAIN did take out a 59.56 cup with handle trigger on 2/18 rising 2.6% and approaching that pivot. The stock is lower back to back weeks losing 2.9 and 4.2% and it did slice its 50 day SMA in heavy trade on 4/21. HAIN is now 9% off all time highs and we think this represents an opportunity and look to enter here just above round 60 number.