IDEX 30 min Chart Analysis

IDEX is currently in a consolidation. The candles in this 30 min chart are right now currently trading below the SMA 200 and the EMA. I will consider $1.20 the actual support for this stock in case it drops more. The RSI is at 41 and I think if the stock break that red downtrend line it will keep moving up, But right now I think it is a 50/50 of chance for the direction.

Pros: the stock is very volatil and it have good press release. Good News can keep this price up and the company is moving with good ideas for a better future of the company.

Cons: Hinderburg Group released some information that is affecting the company.

***Remember***
This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.

Comment:

If the SP hit $1.18 $1.20 range it can start consolidation or a bounce back. If the price break support it can go lower because the sma200 still above the ema and candles still trading under the downtrend red line.

***Remember***
This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell at your own risk.