Weedkiller420

INSG Reversal

Long
NASDAQ:INSG   Inseego Corp
It looks like INSG has bottomed after testing the 0 fibonacci level which also coincides with the ascending trend line on the weekly time frame. Also the price is well bellow the 12 month POC line (11.02) and the RSI is way over sold.

First target 11. 05
Second 12.50

Comments

Good analysis as always. Can you explain in detail how you come with the 11.05 price target ?
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Weedkiller420 samsgroupllc
@samsgroupllc, 11.05 is the POC (point of control) value for the previous 12 months. The most volume was traded at that price in the last year. You can see a lot of consolidation at that approximate price on the daily chart from June - September 2020 and again in December before the breakout.

Its just my best guess for a logical and realistic short term price target. Of course if the market continues to tank and interest rates spike INSG will get hammered just like other tech/growth names.
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samsgroupllc Weedkiller420
@Weedkiller420, Thank you, for your prompt response.
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