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IFN Chart, page-39

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mirren

12,296 Posts.

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10/09/19

13:40

Post #: 40367664
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Originally posted by mirren: ↑

Well generally speaking the price has reached a resistance level - you can in fact sell some here and watch to see what happens - It is always prudent to sell any spike and sit and wait for the recoil - just depends on what your time frame is - and as you know if it was a spec stock i would sell here without hesitation- my comment was in line with the volume - it has not spiked - the rsi has - but given that the volume has stayed low and then you pushed me to look at the daily now it has had a shakedown and has moved back up to resistance already so um again could take time at this level but is clearly absorbing the supply which by the low volume is not hectic - so yes it is in a difficult position but holding higher price which shows a bit of intent to not fold - hope this helps lol always hard at these points it is an almost certain consolidation zone - so you could just step aside and wait - until price moves over .675 which is the next break on the chart

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Originally posted by uavsolutions: ↑

@mirren any further chart magic you can draw from the last few days?

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Ok as suspected that resistance level has been met with overhead supply - so likely back down to the gap @.59 then sideways to absorb - can go as low as .57 watch for a shake out to this level and a snap back - then safe to enter again - imo

IFN Price at posting: 61.5¢ Sentiment: None Disclosure: Not Held
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IFN Chart, page-39

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