AndyTheKing

IO - Return to middle of 2020 range (110% potential upside)

Long
NYSE:IO   ION GEOPHYSICAL CORPORATION
Lovely setup coming in here on IO . I anticipate a move back to the middle of this year's range @ $5 if price can break through the POC @ $2.84. If the POC is broken, price should move quickly to target.

Technical reasons for the trade:

Double bottom (and another smaller double bottom recently!)
→ Price still trading within the reload zone (0.618 fib)
→ Daily gaps in target area
→ Buy volume increasing

Good luck!

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