Friday, June 30, 2017 10:35:09 AM
rsi has dropped from power zone, adx is neutral with a down bias and macd is still above zero.
ma's rolling over is negative.
Draw a line from June 26 candle top through June 29 candle top and that is the short term downtrend line. We are not going up until that breaks.
I is now possible IDRA tests lower. Possibilities include 1.60's and even 1.50's again depending on how it plays out.
Today and Monday are likely to be low volume days and a lot of bot trading showing because of the holiday and it is last vacation time before labor day for traders to take a break. This leaves us open to some price manipulation.
Optimism hopes for price to stay above or ride at least ride the 13ema through the 50day and get 50day support. Add news or anticipation and the up move can continue. Right now there is a triangle with a flat bottom and no real uptrend line unless a higher than 1.51 low prints.
Hope that's clear. Remember it is just my reading of the tea leaves. Others opinions may differ.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=0&mn=4&dy=0&id=p92655789234
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