germac

Is the trend reversal convincing?

germac Updated   
NASDAQ:ISSC   Innovative Solutions and Support, Inc
I've marked what I think are a flag and pennant showing a gain of about 38% since January. The press release on Feb 13th about the first quarter 2018 results had this: '...Shahram Askarpour, President of IS&S, added, “I am pleased with the progress we have achieved in establishing a strong market presence solely on the foundation of products we have internally developed. We believe the strength of this strategy can be seen in our gross profits, which reflect the attractive margins of production orders, even at volumes below our historic norms. With the introduction of the only FAA-certified Turboprop Autothrottle, we are essentially creating an entirely new market. '
Their revenue is down but gross profit is up, if I read the release correctly they have a backlog of orders, and if the new market comment is true there's a lot to like, right? I think the chart pattern is saying "Buy, buy!" Am I right?
Comment:
In the short term it was a good call, 10% there for the early bird, but now it's back to the level of the triangle's apex. Maybe the upcoming earnings will move it along again, but which direction?
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.