HL is another long trade that recently hit it’s first profit target, where full or partial profit taking and/or raising stops was advised. The stock has fallen back sharply in-line with the other gold & silver mining stocks but in making an effort to update as many of the long trade ideas as possible today, I wanted to share my thoughts for those who might still be long or interested in this trade. As this weekly charts shows, HL has fallen to support with the RSI moving currently backtesting the key 30 level (oversold) following the recent rare dip below that level and a move back above (see the previous similar action on the RSI from late 2008- early 2009 and the subsequent price action). For the time being, I will leave HL on as an Active Trade and Long Trade Setup but will remove it on any weekly close below 2.80.
