Fresh new chart for INO on Monday. I removed some of the clutter. Recall we are in the consolidation zone from the last chart (see link below). Most of the calls have been spot on. There have been some minor changes from last chart as we are in a very BUSY harmonic stage right now.. and whenever that occurs there is usually potential for gains. These patterns throw us off balance. I have to admit even I was a bit confused at Friday's lack of movement...but I think there was a reason for that.
I am noticing we had a very weak move down and this exposed the Bearish Shark which is the primary formation since the failed crab back in late June (both very bearish signals t o pay attention to). So long term, we can see some strong potential to the downside (as the theme), but I feel we will have some intermediate moves to the upside - allowing traders to put their guard down, before the shark attacks. If you are not comfortable trading- be careful with this one. Set your stops.
Yes we could see downward potential well before the signals here, but there are some minor gains to be made esp if Monday opens up positive. Gann lines appear to support this as well.. so lets see what develops! In summary: Short term- Long Long term- Short CHEERS WOLFPACK!
Trade active
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Opened up additional trade 18.99... could slide down to a smidgen more.. this is a pesky one! But it can be tamed :)
17.35 possible low on a hidden pattern taking us lower this am (cant tell if it is a butterfly or shark- no price action) ... market still not showing itself.. may manifest in next 30 min. If butterfly the low is 19 if shark 17.35 eek Either way we should get some positive strong action later today if not rejections take place.