$IDEX - breakout or double top

Ideanomics, Inc.NASDAQ

Description

⋅ Jul 9, 2020 2:06 AM

IDEX

Updating the fibs and chart as we move along.

Bulls held it together for most of the day.

Volume doesn't match the spike.

Would like to see $1.53 hold for tomorrow or else its looking double toppish.

$1.77 is the level to break to get bullish.

Beyond Technical Analysis

Comments

alidia

⋅ Jul 9, 2020 5:18 PM

All the technicals are wonderful. BUT, I need your guy's opinions regarding on how the lawsuits/and the defending will affect the stock ? @max69 @IMF_Trading

BeardedSince

⋅ Jul 9, 2020 5:46 PM

@alidia I’ve been saying this, it’s not a fake lawsuit, it’s actually pretty big deal, they lied about how huge their company site was (factory site, etc) by a huge number and tried to backtrack and say that they will “eventually” get that big. Short term this thing is a busy imo BUT long term who knows.. it’s def on my watchlist.

FunkyFrank

⋅ Jul 10, 2020 9:57 AM

@Ksanti7 the lawsuit is fake if that's all you have. Alf has countered the claims and the only thing idea did wrong was over hyping their company site. Hindenburg has a history of posting fake strong opinions. Their also an advertising company.

max69

⋅ Jul 9, 2020 10:04 AM

Nice work. Both tests of resistance levels also coincided with the SMMA on the 4 hour. Outlook for earnings report on August 11th is optimistic so I do expect a bigger breakout to the upside. Still time to retest the 1.20 support one more time if this breakout is rejected. Just my 2c.