Just had a look at this on charts. Overbought at the moment on the technical indicators (MACD particularly) and I think it has a month or so of sideways grind in front of it as it works this off. Expect the stock to bounce around between $1.00 and $1.10 or so for a while until we get into reporting or otherwise a news event to give it the next leg of momentum.
The first up leg was solid (up from $0.22 to $0.54 = $0.32) and then we had a correction of $0.22 (68%). This most recent movement (up from about $0.38 to $1.21 = +$0.83) was a nice 260% of the first movement and now we are into a correction which I anticipate would be about 25% of the up leg (hence the $1.00 target mentioned) - but could be more.
The next upward leg could be quite interesting as well. If indeed IFN does grind out a good consolidation, the charts suggest the next leg should take this up to at least the $1.50 - $1.70 range. I dare say it will be announcement driven as has been discussed previously in postings, but for the moment time for the stock to take a breather.
Just my musings - do you own research.
IFN Price at posting:
$1.06 Sentiment: Hold Disclosure: Held
