We saw a healthy test of the 20 week ema and a very strong bounce off that to close the week with an extremely bullish candle. Also held the 50% fib level and pushed above the .618 level aswell. All EMAs are moving in an upwards direction and the volume is a thing of beauty which further validates the move up. MACD is ready to turn and it could happen this week (high chance). This could lead to a big spike in share price if the volume is also sustained (which i think it will since we now have confirmation on the nasdaq listing). Stochastic RSI is beggining to move in an upwards direction aswell and our RSI is still healthy with a lot of upside to come.
Next target for the share price is to head towards the previous high of .715 and attempt to blow through that. Chances are very high this will happen this week and the fact is there isnt much resistance (if any) to stop us from getting to that level quite easily. Once we pass .715 we will enter "price discovery" mode where we will try and find a new base. That could well be at the 1.618 level (91.5 cents)
Very exciting times ahead indeed with the upcoming news flow
IHL Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
