dpyledriver

IDN channel shows .65 as next bottom

AMEX:IDN   INTELLICHECK MOBILISA INC
idn
168 0 0
idn
Last February, I started a swing position on IDN             at .50 cents and sold at $1.23. From that point it went way into the overbought area going into an earnings lotto before it came tumbling back down. I do not consider the brief period over $1.20 to be a valid reason to raise the bottom of the channel. I instead believe that the downward momentum will continue to my buy target of .65 cents and possibly even lower if the bear market continues. In that event I will add to support levels as needed.

For more of my trading ideas follow me on twitter @dpyledriver
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