Like a lot of our holdings, this one caught our eye during the 3 week rectangular consolidation.
Note the horizontal trendline that goes across the chart at around $1.30..which by no coincidence is where we entered our position.
That being said, this one hasn't really done anything aside from drifting lower to the mid level of it's prior rectangular consolidation box($1.15-$1.20)
Clearly if we had observed a noticeable increase in activity on this pullback, we would of probably pulled the plug on this position..much like some of our other ones.
But what often happens is these pullbacks just turn out to be tests of recent support levels.
Anyway, HNSN issued favorable news after the close today and we're very interested to see how it trades today...
Being that $1.30 was the prior breakout level, we wouldn't be surprised to see it test that level again.
More to follow..