Monday, May 11, 2015

Innovalues - Rebounding from support as predicted last week !

Have rebounded slightly according to last week’s call,  can it cross above 0.88  - 0 .90 as mentioned previously to clients?

Sent: Wednesday, May 06, 2015 10:17 AM
Subject: ****************** Innovalues - Back to consolidation above 0.80, positive above it. price 0.825
Following up from previous buy call last week, we have indeed seen Innovalue staged an incredible breakout and headed to a high of 0.875 yesterday before profit taking seen. Range would now be  from 0.80 to 0.88 and immediate support level would be at 0.78 which was holding for a week. Uptrend still intact above the 0.78 – 0.80 level and can continue to ride. Those who have already taken profit yesterday can also accumulating again on dips above the 0.800 support level for any rebound aback to 0.88 – 0.90. A further breakout above 0.900 can see it trade to the critical 1.00 which will serve as a huge resistance. Raise stop loss to 0.79.

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