INFI is in the middle of a strong downtrend. The chart looks overextended and it could be reaching a potential bounce level. Look to the small timeframes for confermations.
Broke a bull flag on the daily a few days ago, now forming a nice ascending triangle. No clear breakout price, but I'd say over 2.61 intraday on expanding volume or a close above 2.61 for a swing trade. Risk to 2.40 with a large gap to fill, but based on history, reward potential/price target up to 3.25
INFI seems breaking out of a pennant formation. There is a potential for upward channel formation as well. However both pattern suggests upward movement & we think it has good upside potential up to $4.
* Trade Criteria *
Date first found- February 14, 2017
Pattern/Why- Upward Channel; Pennant formation.
Entry Target Criteria- Entry around 2.5-2.58 (Hit ...
After a huge drop INFI is consolidating & building momentum. Right now it’s sitting on a cluster of support & seems getting ready for a jump. Indicators in the hourly frame also suggesting a long. Huge upside potential as a lot of Gap to fill.
We are taking a long up to 50% fib level.
You can check our detailed analysis on INFI in the trading room/ Executive ...
