Going up...., page-16

Having a refresh of the technicals:

200 day moving average at $0.725 is resistance that needs to be taken out to see further momentum for HFR in the short term. Short term MA at $0.665 needs to hold, otherwise we can expect to see $0.60 tested again, most likely on low volume.

Looking at the indicators, the first being the MACD which is trading above the 0 control line, we are seeing the positive momentum stall and potentially roll over. RSI fortunately didn't move into 'over bought' territory, however, similarly its starting to move lower once more. The other caution is the stochastics trading well into 'over bought'. Whilst the share price can continue to move higher and at great pace with 'over bought' signals, we need to see the interest be maintained on market.

Needless to say the environmental sign off from authorities can be a significant catalyst in seeing HFR meaningfully higher from current levels.