Hammond maintaining 52-week high

1 Nov 2023

Hammond tends to peak RSI around 85 and that area is marked with the dashed green line. This stock has extreme momentum on very strong financial performance. The stock also recently broke a key 500 million dollar market cap. A medium term downtrend was broken as well showing strength both medium and long-term. I do expect the RSI to come down soon but that does not mean there are a lot of sellers in price discovery land. Hammond is about 6$ above a local demand zone and looking to edge higher. I predict a 2 billion dollar market cap by end of 2025.