Had a great run with INGA, then the sell-off from the top.
Stochastics on weekly say we have downward momentum still. INGA is holding at the first green line (support) and if it breaks will move to the next green line (1 channel lower) if that breaks.... etc. etc.
If INGA manages to break the red resistance line we will have a breakout and can go in for a swing trade.
I am neither overly bullish or bearish on INGA right now, it could go eitherway. The bank is healthy and well funded, covid is not over yet, let's see what happens and trade accordingly!
Remember, just trade the chart, not the company!
Stochastics on weekly say we have downward momentum still. INGA is holding at the first green line (support) and if it breaks will move to the next green line (1 channel lower) if that breaks.... etc. etc.
If INGA manages to break the red resistance line we will have a breakout and can go in for a swing trade.
I am neither overly bullish or bearish on INGA right now, it could go eitherway. The bank is healthy and well funded, covid is not over yet, let's see what happens and trade accordingly!
Remember, just trade the chart, not the company!
Comment:
Red day today at opening and not surprisingly INGA dropped down another channel
