IOVA has doubled in February and broke out above its volume profile high volume area about
one week ago as it runs to earnings. Since it settled down two days ago into a relative side-
ways consolidation. I will take a long trade here for a pre-earnings play to presume that the
buying and bullish momentum will resume nearly immediately.
Trade active
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My Buy stop to add more shares to the position is 16.35 the top of the local volume profiles' high volume area.
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IOVA up 5% from the open now situated at the moving average ribbon for an add to the position
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Given the morning price action, I expect a fade this afternoon and so will look
to add again near to the close of the session.
Trade closed: target reached
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Position built last week closed for big profit at the double top- expecting to re-enter after the fade or full retracement
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Re-entering using only the profit from the last trade to compound the gains. targeting the VWAP lines above
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Targets 16.60 and 16.85
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Partial Profits taken - half the position is still running no signs of letting up- still with relative strength in the 60s. This has been a great trade.