IVC has broken out today from a 9+ month H&S bottom on great volume. The right shoulder is made up of a 77-day Ascending triangle which achieved its measured target today @12.64. The target for the H&S is circa 14.65 I would have preferred an earlier entry but I was a bit late in getting to my desk after my alarm was triggered and did not have a buy order in. Nevertheless, I am long @12.30 after waiting for an expected drop from 12.64 as risk-reward till the H&S target is more than 2x my risk with a stop @11.35... Not willing to miss a trade that makes sense to me because of over-perfectionism. The regret when they run without me is worse than a calculated loss. Volume indicators on the daily chart are trade supportive, weekly not as much. Recent Golden Cross for those who care for MA crossovers... I will cut this trade early if it cannot close the week above the neckline. All IMHO
GLTA
IVC Price at posting:
$12.33 Sentiment: Buy Disclosure: Held
