HS GovTech (CSE: HS) is continuing on a rebound heading into the weekend, after shares took a slight dip from recent 76% gains. Since Wednesday, shares have recovered roughly 11%, bringing them closer to a retest of resistance at $.55.
There is a chance price that action could continue along the longer bearish trend of late. However, I will be watching for an inflection of the 50MA, followed by a retest of it to affirm whether shares have begun charting a bullish trajectory.
The company reported its strongest sales quarter on record in July, which gives me hope HS could be entering into a phase of rapid growth.
HS.c is currently trading at $.48, valued at $22.93 million.
https://ceo.ca/@newswire/hs-govtech-announces-q2-sales-performance-its-strongest