INARI holders to stay cautious.
Greetings to all ,
Here are my technical views on INARI.
1)The formation of double top and head & shoulders is a strong sign of the pending correction. From the high the price has plunged almost 25% to close at
1.90.
2)The candlesticks have turned yellow which indicates that the trend for now has weakened and now the price has moved to form a lower high and lower low.
3)The long term 200EMA support has been broken. From the EMA perspective the price is a downtrend.
4)For now, using the Fibonacci projections, we can anticipate the price to sideway between 78.5% (1.80) support to 50% (2.07) resistance level . To hit 50%
means the gap down would have been filled. We believe this first sign must complete to see an uptrend in the price movement.
This sharing has been designed for informational and educational purposes only and does not constitute opinion of whether to buy or sell any security which may be referenced upon this sharing. The services and information provided through this site are for personal, non-commercial, educational use and display. There are substantial risks in stock trading and therefore all investors are advised to conduct their own independent research or seek professional investment advice into individual stocks before making a purchase decision. Cheers
Here are my technical views on INARI.
1)The formation of double top and head & shoulders is a strong sign of the pending correction. From the high the price has plunged almost 25% to close at
1.90.
2)The candlesticks have turned yellow which indicates that the trend for now has weakened and now the price has moved to form a lower high and lower low.
3)The long term 200EMA support has been broken. From the EMA perspective the price is a downtrend.
4)For now, using the Fibonacci projections, we can anticipate the price to sideway between 78.5% (1.80) support to 50% (2.07) resistance level . To hit 50%
means the gap down would have been filled. We believe this first sign must complete to see an uptrend in the price movement.
This sharing has been designed for informational and educational purposes only and does not constitute opinion of whether to buy or sell any security which may be referenced upon this sharing. The services and information provided through this site are for personal, non-commercial, educational use and display. There are substantial risks in stock trading and therefore all investors are advised to conduct their own independent research or seek professional investment advice into individual stocks before making a purchase decision. Cheers
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