IIPR - 3 Peaks and a Domed House

NYSE:IIPR   Innovative Industrial Properties, Inc.
From Lindsay's book, the move up (and subsequent decline) of IIPR
appears to meet the criteria of a 3 Peaks and Domed House formation.

One critical aspect of this pattern is that the decline must fully retrace
to the bottom of the Separating Decline (G). The ultimate target has
no time limit to be reached (if it is to do so). This targeting could
easily be combined with other T.A. methodologies as supplemental

While he focused upon the indexes (primarily the Dow), I have applied
this to futures, individual stocks, ratios, etc. Also, I believe his focus
was daily charts. I find this to be of value for wkly and mthly charts as
well. Some targets Ive had have taken years to be reached.

The most interesting application I had (not real time, but after the fact)
was that of crude. The target I calculated actually ended up being a
negative number (which was actually reached when crude went
negative not long ago!). Of course, this could not happen with a
stock/index. It could happen with a yield curve calculation though if
the pattern were applicable.

Anyway, this is just a bit of "old school" that still works nicely these days!

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.