Sticking out like a sore thumb

In viewing the Daily chart of $HTS this morning, it occurred to me that the volume for Friday really stood out. The price action certainly points to a stock that is under some pressure and the volume footprint clearly points to the Bears being in control.

In looking for trade setups, it is nice to find a stock that demonstrates a high probability of where the action is headed. In the chart above, I do have a channel drawn with the lower rail showing a LOT of price pivot action. However, It is my perspective that price heads down to say hello to Mr. 50 day SMA for a test first ($28.84). The reaction of that test will certainly help clear the picture up more as to whether or not it continues down to test the bottom rail again, or bounces.

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