HYMC Price Squeezing as Predicted

Last November, I highlighted the potential for a liquidity squeeze in the share price of HYMC. It took longer than anticipated, but prices are moving now. Below are near-term targets and support levels.

HYMC PRICE FORECAST

A breakdown below $1.00 occurred last November. Medium and long-term HYMC investors are probably looking to exit near current levels. Expect some back-and-forth price action as new buyers replace old and tired bulls.

Technical Outlook: A solid finish above $1.66 would be considered near-term bullish and could trigger a quick jump above $3.00, in my opinion.

A sustained close below $1.30 would support a deeper pullback into late March.

Overall, the squeeze potential to $8.00+ remains but requires a massive extended hours squeeze sometime after Wednesday’s Fed announcement.

In summary, our expectations for a squeeze higher in HYMC persists; prices would have to finish below $0.80 to invalidate our outlook.

Disclosure: I own HYMC stock and HYMC warrants (HYMCL & HYMCZ).

If you’re interested in commodities, checkout our Gold Price Breakout Alert.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here.