HPL (technical)

HPL: technical outlook is at a crossroad now. Following the bounce from the recent $2.50 levels, there is a semblance of a head and shoulders pattern forming. If share price fails to overcome the $2.70 resistance, there could be downside pressure on the stock driving price back down to the $2.50 levels. However if share price successfully breaks above $2.70, it could test the next resistance at $2.90 quite easily. The rising indicators at the moment, suggest higher probably for the latter case.