fonzotrader
Long

Might be looking at an elliot wave pattern in $INXN

BATS:INXN   INTERXION HOLDING N.V
147 1 1
I am long $INXN. I am judging this stock solely on a technical perspective.
My price target is 7.79% and I have my stop loss at 24.43. With a risk/reward ratio of 2.
All my indicators contradict my current position. Parabolic SAR gives a sell signal. MACD is in a downtrend and the price is under the 50 SMA .
BUT an elliot wave pattern is beginning to form, the price is at its support trend line with not much force to go downwards and finally an ascending triangle pattern formed! These are the reasons I am long this stock.
Hey Alf, not sure about the triangle - could prove true, but looks more like a channel trade to me at this point. I see a neutral setup in play awaiting a break for bulls or bears. Hope this chart helps. Just what my lens focuses on - not necessarily gospel. Best of luck on the trade and thanks for sharing on TV!
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