Bearish potential detected for IPH

Detected 10-May (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 10-May.

IPH represents a potential bearish opportunity should momentum continue and newer lows be made.

Entry conditions:
(i) lower share price along with swing up of bearish DMI indicator and swing down in RSI (consider a re-test of prior support, which is now resistance).

Stop loss for the trade would be:
(i) above the support/resistance level from the low of 11th April (i.e.: above $5.94), or
(i) above the support/resistance level from the low of 28th March (i.e.: above $6.09), depending on risk tolerance.

Order cancelled:

UPDATE (week ending 17-May): No successful test of resistance areas - therefore, no trade activated for a 'short' trade (remove from watchlist).