IEA - No trade - Neutral territory

Description

⋅ Jan 28, 2021 2:36 PM

This stock has broken the 10 and 12 EMA so it is no longer bullish. Major support at the 50 MA which has bearish implications.

Volume is bullish yesterday but does not take out the bearish volume level on Jan 25th.

I would not get involved with this stock until it reclaims $23.00 or see several closes above the 12 EMA to get involved.

Right now, stand aside. Better trade set ups out there.

Trend Analysis

Comments

AzizAripov

⋅ Jan 31, 2021 9:05 AM

Look at the rsi oversold and daily catalysts from sec filings to news articles entry is now after 18$ triple bottom confirmation..

KAS109

⋅ Jan 31, 2021 11:27 PM

@AzizAripov, technically it failed to to bounce at resistance of 20.22on the daily, it is trading under the 15 EMA and closed underneath it (bearish), weekly shows bearish engulfing candle

I stay away until this proves itself bullish, I don't trade bottoms unless support levels which are in the 17s on the weekly. I like confirmation trade can go my way, I don't see any. Perhaps fundamentals are really good tho, I don't know, haven't looked into it, in that case you have nothing to worry about because fundamentals prove themselves.