$INVE taking a breather or beginning trend reversal? NASDAQ:INVE
Good evening traders!
I recently stumbled upon $INVE and its been all around appealing to me so far, with technicals and fundamentals.
Today I was looking to add to my positions and at first glance it seems that INVE is at a great place to make another entry.
It appears to be taking a breather before going on yet another healthy rally to continue its consistent uptrend so far.
However, looking at some more long term Support & Resistance points ( when in doubt, zoom out! ) it seems that the ~$5.5 price level has historically been a difficult price to successfully break through
At this point, I'm approaching this stock with more patience, as it plays out and shows signs of either reversal to a downtrend or confirms continuation of the current uptrends.
breaking below $5 will be a point to look out for-
Continuing to drop down to the ~$4.50 @fib levels, and I'll consider this more likely a reversal to downtrend.
For investors this wouldnt be a worry, as this seems to be a strong company so far with promising opportunities in the long term
As an active trader its been fun to mark the stable uptrend and ride the gains with it.
With my holdings bias, I'm hoping we drop to a stable level of ~$5 or slightly below it, only to rally back up and shoot for a target price of $7.25
Happy Trading!
