From watching it for a while, it seems to find a bottom. Share your thoughts.
Looks touched bottom and will be likely to go high.
Maybe its because its: 1. the first green H.A. trend candle in the last 10 candles. 2. That all three oscillators (Stoch RSI, RSI, CCI20) are turned up showing the big bottom turn. 3. That we see the turn on a major support area. 4. That we are still well above last years high (blue line) so we can use it as a good stop at 21.70. 5. Even with the pull...
Trade talks are scheduled this week and China small caps have been getting heavy volume. IQ has also had bullish flow the past week. $28 PT
$IQ has officially broken above a resistance and we have higher highs on the daily RSI. Fib extension shows possible break above $20. Earnings apparently Jan 30? China trade talks are heating up, and Chinese stocks are just beaten down in general. Currently own Feb 1 $20 Call Options.
IQ finally breaking up out of its consolidation just below the previous IPO all-time low. A lot of volume coming in on Friday. Any retest I expect to be bought. IQ might gap up tomorrow with the after-hours activity.
There are so many combination for this trade: 0.618, demand zone, butterfly pattern..... I will be willing to wait for reversal sign @ 23.00-24.00 spot, which is also a 50% discount from its peak. Let's see how it goes!
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...
Looks like this one may be bottoming out from retracement. Looking for a higher low to form and then a higher high break through both dotted lines. Green arrow represents long positions. green box represents sell region based on 1.618 fib as well as the prediction of this to form a LARGER long term tightening pennant possibly reversing near green zone. SL is at...