3 Reasons to Go Long on HFF

 | Mar 16, 2017 | 2:18 PM EDT
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HFF  (HF)  is the Pittsburgh provider of commercial real estate and capital markets services.

It has a positive looking chart and was upgraded today by TheStreet's quantitative service.

In this daily chart of HF, above, we can see a sideways trading pattern the past 12 months, but beneath the surface of the price action the chart has strengthened since October. Prices make a low in October and they turn up with a rising On-Balance-Volume (OBV) line. Prices rally to a December high and then move sideways. Despite the neutral price action, the OBV line keeps climbing, telling us that buyers of HF have been more aggressive and accumulating shares. The Moving Average Convergence Divergence (MACD) oscillator is also bullish.

In this Point and Figure chart of HF, above, we can see exactly where the upside breakout happens. Bulls will take control with trades at $32 and $33.

Bottom line: A quantitative upgrade, a strong OBV line and a bullish-looking Point and Figure chart combine to tell me to go long HF.

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