1776pub
Long

IQNT has filled the gap.

NASDAQ:IQNT   INTELIQUENT INC
145 0 0
On July 15th IQNT gapped up after increasing earning and revenue estimates. On August 8, IQNT moved down big-time after reporting better than expected earning, but stating they may have to restate some prior earning reports due to possible overstating some LOSSES. Well, that doesn't sound so bad to me.

On the technical side the big move down filled the gap caused by the gap up on 7/15, and a couple of days after issuing a Short Exhaustions Signal, DecisionBar issued a Possible Reversal signal. The market would have to trade above the high of the signal bar ($7.75) to validate this trade.

This is not a trade for the faint of heart, but a possible move up its recent high of $9.07 is the potential reward for the risk.
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