Advances as expected$INAQ is getting traction as we expected. It just made a new ATH and there should be more momentum on the way after this to take it to higher highs
INAQ trade ideas
$INAQ back to bullish channelEven though the sell off due to the $GME war was a bit excessive, but $INAQ managed to go back into the bullish channel, and if one is not out of the trade on very strict stop loss rules the price should continue to rise and reach the resistance line of the channel.
$INAQ forming a re-entry patternMetroMile, mile-based auto insurance that is backed by Mark Cuban and Chamath Palihapitiya is forming a dip inside a rising channel that may offer a good opportunity to enter or buy. Watch for the reaction when it hits the support line. As always DYODD. Not financial advice!
INAQ - Key levels as of 6 JanI see INAQ as quite a simple prospect:
* Had an initial range up to high 13's (best place to get in to this instrument)
* Second range is between 13.8 - 16.00. Currently flirting towards the bottom part of this range
If the pattern repeats we'll see a third range up to the 18-20 mark. Or, it could surge up if there's a suitable catalyst.
For now, I've got a 1/3 position as I expect this to do very well end of Q1, but my entry wasn't brilliant and I'm a little late to the party.
As per my trading rules, I've bought this close enough to a decent support, and will have a stop in place if this looks to break lower. I would have gone in harder, but that would be bending the rules a little too far. I'm really trying to be disciplined this year!
If this does go back into first range it's a major buy and I'd be looking to increase my position (would qualify as being 'early' again I suppose).
$INAQ INSU ACQ Crop Trade set up- Trendline Break
INAQ looks ready to take a leg higher as it breaks the
local downtrend line.
Moving averages in support.
First target will be to Previous high $16.39
Fibonacci Expansion target $17.84
INAQ might start squeezing upWas forming pennant, just broke bullish in 4hr chart.
Volume is coming in, and it is looking good for us.
Very risky play though.
INAQ - Long 12/21/2020Strong price action
Ascending triangle pattern
Respecting rising trendline
Bought in at trendline and sold after false breakout at all time high.
INAQ update - plot buys across the wicks on the trendlineBullish on INAQ and scaling in gradually to this SPAC under $14.
I like SPACs between $10 - 13 as there is very little downside but a lot of potential upside just before the ticker changes.
Looking at this chart my plan is to keep scaling in according to this wicks on the diagonal trendline which are like clockwork.
So next buy would be around 12.90 tomorrow - let's see if it pans out. I'm going to trade off this chart until the pattern changes, most likely that'll occur the closer we get to 13.5 which is the most significant local resistance.
Once INAQ breaks 13.5 I expect this to soar and be at $16 quite quickly. This can all be invalidated by a sell-off near that level or at the resistance. In that case, I will re-evaluate and look at support levels.
But classing this one as an 'investment' not a trade (until ticker changes over). Of course, do your own research and always know what type of trade you're taking before you enter in.
INAQ - Pennant forming?Interested in this SPAC and see a lot of potential for it in the coming weeks and months. This is the Metromile SPAC.
Looks like a rather rough bullish pennant forming. Happy for this to have some time to breathe.
The merger is set for Q1 2021.
