AzizKhanZamani

IOU Daily S/R| Swing High| Volume Influx| Price Action

Long
ASX:IOU   IOUPAY LIMITED
Evening Traders,

Today’s analysis – IOU – trading at the key .618 Fibonacci where a bounce is probable,

Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Swing High Objective
- Low Volume

IOU’s immediate price action is corrective, trading towards a technical location, being the .618 Fibonacci – allowing for a short term bullish bias.

The Daily S/R is support, diverting back here for a retest will still deem IOU bullish .

Current volume profile is on a decline, an influx is highly probable when testing key trade locations.

Overall, in my opinion, IOU is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

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