@SalmonBandit Lets have a look at the display of weakness that is IOU at present. IOU 15 weekly chart
1) It is below the 50sma - a sgn of weakness
2)It did not bounce off the gap which is shown by the two green lines this week. - a sign of weakness
3) It broke below the wedge formation - a sign of weakness
4)It remains below the upper trendline - a sign of weakness
5)It is below the 8 ema - a sign of weakness
6) It is about to have the 8ema cross below the 50sma which invariably leads to lower prices. - a sign of substantial weakness,
7) It bounced off the demand level on November 16 and is now lower than where it bounced from. - a sign of extreme weakness.
8) It broke below pivot lows on intraday timeframes like the 5 min chart and 15 min chart.
9) It was last seen on a leash in a kennel
