HBHC Potential Ascending Triangle

By Johns Wu on Jul 03, 2006

HBHC, Hancock Holding Company, showed up on my ascending triangle scan just now.

This chart is REALLY interesting. The first thing I noticed was how the OBV is in a VERY strong uptrend. This kind of OBV pattern isn't characteristic of a typical ascending triangle. OBV is based on the saying that "volume precedes price", and this OBV is definitely a bullish signal.

Keep HBHC on your watchlist for the potential ascending triangle breakout. Are the markets open today?

This entry was posted on Monday, July 3rd, 2006 at 1:05 am and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.

One Response to “HBHC Potential Ascending Triangle”

By red bull chuggin' freak (danny) on July 3rd, 2006 at 6:24 pm

This is a Mississippi bank/hldg co with 100 branches, 120 ATMS, and more than $6B in assets UM. I like the balance sheet but management thinks loan growth won’t pick up until late 06 — at 19 x, I liked it, but at 30 x trailing 12 EPS, I’d go easy on the buy trigger; scale your purchases if you decide to get your face wet. If loan growth doesn’t show a pulse until 1Q 07, stock will fall in back half of 06 due to lower NIM (net interest margin). ROE has improved after getting pounded in 03; insiders own over 27% of s/o; and float = just 25 million. Not bad, but not great.

Name

Website:

Comments: