HCKT yesterday broke out of a tight trading range from late August, that saw it weather the market volatility quite nicely. An increase in volume on the break adds to the strength of the signal.
The weekly chart, as shown below, also shows a break from an even larger, 3 year basing pattern with significant resistance not seen until the all time highs up at 40.38.
Given market volatility and the potential for another leg lower, we can't assume price is going to reach ATH's. The initial target from the break is ~27.
Also, regards to timing an entry, I'd prefer to see a successful retest of the breakout area then rally to reduce the risk involved with the trade. Happy missing opportunities and conserving capital in a difficult trading environment.
