Good Retest gap today. Honestly, this entry might be a bit too low. However, if INVN takes 4 or 5 days to fill the gap, the entry point converges with the point of the triangle as well as the 10 EMA. I can't take the trade due to available funds, but I would leave this trade open for 6 or possibly 7 days depending on the rest of this week.
I think price should break out of inverse h&s. Up-day volume has already been improving. 9.4 is my first target. Then maybe 10.5
INVN is breaking lows and we could get this one to follow through to the downside tomorrow if it holds this breakdown.
$INVN Tested 50 dma support line after earnings and about to break out and test 200 dma...go long.
(going to be hard to short) BUT I love 7.60 x 7.72
Not great volume at support Watch for a couple day consolidation and a potential short for a move towards $10
This was previous analysis "6/8/15 Appears to be in 'no mans land' however, decent on the hourly. A pull back into $14.70 could be bullish. Buy the bounce. No prem for option selling outside of this large channel. 17 naked call for July is only .10 Not a terrible place to short the stock though... Ken Freeman - considering 14/13 July BPS and/or Sep 13 put...
Friends, Re: $INVN: ---------- InvenSense Inc. is the provider of the MotionTracking™ sensor system on chip for consumer electronic devices such as smartphones, tablets, wearables, gaming devices, optical image stabilization, and remote controls for Smart TVs. (Source: www.google.com ) ---------- Just released on social media: ---------- From...
If INVN opens below 14.57 consider using the Perfect Gap N Go strategy. For free stock market trading education go to www.RealLifeTrading.com
Here is an expanding wedge breakdown... a true FALLING KNIFE. But, one look at the balance sheet and this will change your tune. Retained earnings growing YOY. 125M in cash (139M in debt). 90 M OUT. 64M in the float. 70% Institutional. Assets to liabilities are 3:1. Now looks like a good time to jump in. ABOUT: InvenSense, Inc. designs, develops, markets,...