Has indeed staged a convincing breakout as per last Tuesday’s call and has even closed above out first target at 0.605 today. What do you think, still good to go?
Seems like 0.56 resistance still holding for now. Note that any lifting of this level can be a positive to 0.60 then 0.64 on strong volume, Raise stop loss to 0.545 on a further breakout and continue to ride the upside. J 20 day MA still pointing upwards firmly and immediate support would be at 0.54 for now.
Sent: Tuesday, February 03, 2015 10:12 AM
Subject: ******************* Consolidation before more actions: Innovalues - Staying above 0.500 will still be a positive, price 0.545
Subject: ******************* Consolidation before more actions: Innovalues - Staying above 0.500 will still be a positive, price 0.545
Following up from previous breakout BUY CALL, Innovalue has traded higher to touch a high of 0.56 over the past few days. Breaking a new high each day on strength with above average volume is a positive sign. Range would now be from 0.52 to 0.56 first for a brief consolidation before more upside again of it manages to clear above the 0.56 temp resistance level. Any further breakout can see it trade to 0.60 then 0.64 in the near term. All 3 technical indicators still looking positive and trending upwards with no end to uptrend in the mid to long term in sight. 200 DAY ma line still gradually sloping upwards. Can continue to ride the uptrend while raising stop loss.
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