If we can find support in the mid 8's to 9's should form a nice cup and handle formation for the next leg up to break that resistance of 10c IMO.
A lot of excitement was shared yesterday over IBX's price action yet today's dump are most likely traders taking profits, closing positions & stop losses are being hit if they bought at 9-10c yesterday.
This isn't a P&D. Sure we can speculate that it was a combination of FOMO, traders, and those who believe in the long-term narrative which have re-entered a position after big volumes.
We have broken out of that downtrend and are looking for support. Expect the volatility to increase in the next upcoming months and don't get fooled by any tree shakes if you have a longer term view, DYOR.
IBX Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
