PP-Guy
Short

WD Gann Study - The man with a plan!

NASDAQ:IESC   IES HLDGS INC
I have been following this company since it's meteoric rise with the change of President's at this company. This can be either a positive or negative catalyst for a stock as it is well known. All lot of changes have been made including four or five new acquisitions.

The current balance sheet is all happy with lots of cash flow and a new financial agreement with WFC             combining old debt with even more new debt and extended credit limit. This all makes me ponder as I have been involved in several acquisitions and mergers. It's all sunshine and lollipops at first, then reality shows up and in short order with the rising overhead costs and lack of increased sales to support the new business structure, crash! Another house of cards?

This is a research project also in regards to specific calendar days that Gann held significant. So I am plotting these dates moving forward from the new low closest to the relevant date, which in this case is 8/5/2015.
I am including the use of the Square-of-Nine and the rotation of numbers in this research.

I am new to this site and this is my second posting of an idea. This one is not being published initially public as I would like to gather input, guidance, and suggestions of others who may be familiar with this style or type of trading method.
I have followed only a few traders on this site to date as I have been trading on and off for over 30 years and wished to "weed" through the traders that have not been through the trenches yet.

Thank you in advance if you wish to share - Pivot Point Guy.
PP-Guy
6 months ago
Today was a momentum change day in my opinion on this stock. I placed a stop sell order at 12.25 and got filled at 11.16, placing me at the mercy of a gap down open that performed the famous "Oops" or "Trade the Gap", oh boy - S*^! Happens. So got out of the trade for a small loss shortly after the open. Now doing my end of the day review I am impressed by the piercing line bullish candle formed today by the bulls.

The 5/5/16 WDG day close of 13.13 needs to be breached with a higher close for bullish confirmation according to the WD Gann and his methods of trading. I will be bullish at this point and will be placing a stop according to the price action. A close below 12.25 would still be bearish and a candle or candle formation to negate the piercing line candle could be a tough go for the nears at this point in time.
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