With a reasonable ER and chart looking primed, I am continuing to build my long position in this area. Ive kept plenty of dry powder for a drop to the 29 region and will load heavy there. A stop below the lowest order block provides an excellent R:R for buying here. Maybe I'm being naive but seeing instituitons downgrade IQ seems like a contrarian indicator to me as well. Lets see :0) Happy Trading!!
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Good Morning, as you can see my stop alert triggered on friday. However, due to a bear divergence forming, and this drop being low volume, I have decided to stay in the trade. I now have my eye on June 6 low for invalidation
Lol.. I agree with your analysis. Given it's at its support and its earnings were good I don't see it falling further. I don't trust any of these institutions most of them have an agenda, possibly accumulation at cheaper prices. Remember the .com analysts, everything was a buy. Do you own research and stick with it, your incentive is greater than theirs. Good luck with your trade, I'm in it too.
sexyfruit
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@damax26, Thanks! Good luck to you as well. Bullish fundamental update this morning with the completed acquisition of the gaming company.
lousyjets
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So agree with you. And I won't be surprised to see this literally DOUBLE...yes double in 10 days. Holding big lots in this (in the water for now). GLTY
sexyfruit
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@lousyjets, i would hope the growth to be a bit more sustainable that a 10 day double!