CHF Solutions Inc CHFS shares were trading higher Tuesday after the company released better-than-expected fourth-quarter earnings results. This caused a spike in volume as well as an increase in price in Tuesday's premarket and regular sessions.
CHF Solutions Technical Levels to Watch: The 1-minute chart below indicates there may be a speculative short-term support around the price level of $9.50.
A possible failed test of speculative support shows the next speculative level further down to be $8.50.
This morning shares of CHF Solutions were able to break premarket highs, which is bullish for the technical trader, but were never able to hold those levels, making a correction back toward the support.
Speculative technical levels for resistance include the premarket high price level at $11.28, and the high made at 9:45 a.m. of $12.38.
The stock was trading 23.53% higher at last check.
Ideally, a short-term bullish technical trader would like to see these resistance levels broken with a period of consolidation above before another move to the upside.
The bearish technical ideally would like to see the stock fall through both short-term speculative resistance levels. This may cause the stock price to see a sell-off for the rest of the session.
The daily chart below shows the stock price has broken through a longer-term speculative resistance at the $10.50 price level.
The bullish technical trader would like to see the price stay above this $10.50 level and consolidate above before a move higher may be possible.
The bearish long-term trader ideally would like to see the price close below this speculative resistance level for a possible move lower.
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