Here's a quick analysis on IOST for the short-term.
Watching the 15m charts, a hidden bullish divergence is forming between the Price and RSI. This divergence, along with the support line in white and the .786 retracement level, should be enough to break IOST out of this descending channel.
For price targets, I'll expect any of these retracement levels, but my sights are set on the .5 and the .382, seeing as how well IOST has respected Fib levels.
Good luck!
Comment
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In the first sentence, I state that a hidden bullish divergence is forming between Price and RSI.
This is between Price and MACD. Apologies for any confusion.
Trade closed: target reached
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Sorry for being so late on this one. Hope anyone saw it quick enough to make some money off of it. Looks like we actually retraced to the .236 for what would make a 6% gain!