IIPR Potential Weekly Inverse Head and Shoulders

NYSE:IIPR   Innovative Industrial Properties, Inc
Ticker: $IIPR

Can IIPR gain any traction and break weekly resistance of $87.20 these upcoming weeks to confirm the inverse head and shoulders?

Remember, Inverse head and shoulders is a pattern that signifies a trend change from bear to bulls. If bulls can break this weekly inside bar bullish , than the possibility is there.

I need to see an increase in bull volume this week with a bull break of $75. 40 to be interested in this name. If we get that, I will be very interested in a position.

Let see if this bull market can provide any fuel for the bulls to run.
Comment: Bears continue to push the price down this week.

Bulls must hold daily support of 69.61 in order to have a chance at a inverse head and shoulders on the weekly.

So far, it is not convincing and we will take it one day at a time. Break 69.61 and I will not be interested in IIPR. I will then watch for a potential double bottom of 66.61. If it does not hold, I will look for a quick scalp trade when 66.61 breaks bearish.

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