DavideG
Long

INVN - Staged for a Rebound

NYSE:INVN   INVN
216 3 0
Signals suggest INVN             is staged for a rebound. With yesterday's 8% move upwards, INVN             has broken out of a descending triangle and above the psychological level of $15, that it failed to breach over the previous four trading sessions. The 9EMA crossed the 20MA and the RSI is rising from a rounding bottom, one of my favorite patterns. Entry at $15.15. First target is $17.2 or contact with the channel's TL, whichever one comes first.

12.12.14 - 9:34am EST
Taking profit here at $15.3 (5% gain). Earnings led to the swing down today, and hoping for my clarity. 1.30.15 - 2:43pm EST
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Chart untouched. INVN ran into strong resistance at Target 1 ($17.2) as expected. Like the reentry here, however. Entered at $14.55.

1.13.15 - 10:09am EST
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As planned, with INVN up against the TL, exited at $16.30 (7.5% gain). Will watch for reentry. 12.30.14 - 3:48pm EST.
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