Although P&F charts are not directly applicable for daytrading and short term trading in general, I find it very helpful to check those P&F charts from time to time. They are especially useful and correlate very well from my experience when the new reversal signal emerges. I think the reason is that long term investors who monitor these type of long terms charts (weekly & monthly) see the trend change on P&F charts and their buy decisions coincide with quick daytraders' decisions to push price even higher. So we have some sort of "trading resonance" effect.
$HNSN P&F chart shows Double Top Breakout on July 6th and $9.00 as a bullish price target.
I believe it should strongly support our trading of $HNSN on Monday.
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