A key Double Bottom has formed on HII. Analyze the breakout level now.
Reversal pattern after a downtrend.
Reversal pattern. Price likely to break upwards.
Traders are watching Huntington Ingalls Industries (HII) as price action tightens. The stock is trading at $321.0, down 0.29% on the day. Price action has carved out a classic Double Bottom. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $403.95, targeting $496.9 with support near $357.48 (R:R 2.0).
What is your outlook on HII?