Updated chart for ISX.
Things to note:
a) long standing resistance at 21 cents , going back to Oct 2016. This has held up 4 times since , ( marked as red circles on the chart). If we can break though that level and it gets tested, then 21 cents could become a support level moving forwards.
b) 14.5 cent level has essentially acted as a floor , since Nov 2016.
c) SP has stood up well this week and moved higher with increasing volume. Positive news flow helps here.
d) highest close since Nov 2017 and we are above 200MA (level around 16.5 cents)
e) SP is currently above upper bollinger band, may get a pullback. It has run hard despite the weakness in broader market.
All things considered, I think it has been a great week for ISX on all fronts. No guarantees in this game, but feeling more positive about ISX every week. Strong believer in management and the business strategy.
Cheers,
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