Invicta has had a reaccumulation and after breaking R19 backed up to the trading range. We are now looking for a break of R22 for the next push higher. See posts below for the analysis following the trend up.
Invicta has moved up from the bottom of the downtrend which we followed - see link below. After breaking the downtrend some consolidation has taken place but after a spring and some volume the consolidation above the downtrend price has broken higher and we can accept that the downtrend has been broken and we are looking for a markup to higher prices.
In this difficult market, we can look at some weak stocks and look for some pullback to the overbought line of a downward trend. Invicta is looking has found support at the oversold line and 50 day MA. Although generally weak is looking to push higher and test the overbought line and 200 day MA. There has been some significant movement this morning indicating some action.