tradersmentality

IIPR Strong Bull Breakout - Possible Buy Climax

NYSE:IIPR   INNOVATIVE INDUSTRIAL PROPERTES INC
Last week broke out strongly above a tight trading range. This week and last week are two very strong bull bars - but a possible buy climax. These two bars are the strongest pair of bars since the Dec rally began, increasing the probability of a buy climax and correction soon. Prices may continue higher for a week or two, but it is a risky time to buy. More likely there will be profit taking soon and the bulls will wait and look to buy after two legs sideways to down. The first and obvious location for the bulls to begin buying again is below this breakout, and the tight trading range, around 80.

If you found this helpful please like and share! Feel free to comment or ask questions
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out