In the related idea I went over why I think IQ will be a great chance to go long on a company that will greatly outperform the market as a whole. If you want to read why I think IQ is a good fundamental bet please read it, as here I am just going over the TA. Please.
The 4h chart has been predictive over IQ's short life.
All of this resembers the take of we experienced between May7th and May 14ths. I cannot think of anything else I could put on the chart that would discourage a long position on IQ. I am not a cloud trader but we are charging through the cloud right now (not pictured, of course). Not listed above because it is more neutral than buy is the fact the RSI plenty of breathing room for us to establish a new high. I suspect we will be running across the overoubough conditions for quite a while in a repeat of what we see. If we see the conditions the bulleted list change in a month or so we might see another retracement and consolidation but IQ definitely seems to be a fire and forget stock for year after year gains. I don't formally count elliott waves for TA (not that good at it) but at my level I definitely see wave 1 and 2 done and so I am strapping in for wave 3.
The 4h chart has been predictive over IQ's short life.
- The CM_Ultimate has given us accurate buy and sell signals on this time frame and we just went green.
- The 13 and 48 EMAs have been rigorously tested to give the best results for ema trading regimens and the price has surged over both the 13 and 48 and I am sure we will having a bullish cross within a few days of trading, even if we retrace a bit tomorrow or Monday.
- The MACD has had its bullish cross.
- The Hull MACD achieved liftoff
- The Elder's Force Index (nested in the HUll MACD just turned dark green)
All of this resembers the take of we experienced between May7th and May 14ths. I cannot think of anything else I could put on the chart that would discourage a long position on IQ. I am not a cloud trader but we are charging through the cloud right now (not pictured, of course). Not listed above because it is more neutral than buy is the fact the RSI plenty of breathing room for us to establish a new high. I suspect we will be running across the overoubough conditions for quite a while in a repeat of what we see. If we see the conditions the bulleted list change in a month or so we might see another retracement and consolidation but IQ definitely seems to be a fire and forget stock for year after year gains. I don't formally count elliott waves for TA (not that good at it) but at my level I definitely see wave 1 and 2 done and so I am strapping in for wave 3.
Comment:
I know the day isn't over and a lot could happen, but we just had our first bullish MACD cross on the 1D. IQ is so new that it has never had the opportunity to experience a bullish cross and so it was nice to see it between my various charting. WIth any luck and some momentum we should be setting ATH. Tell your grandma to smash open her piggy bank, it is go time.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
