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Wednesday, October 15, 2014 8:42:47 AM
IG currently sitting at mid-term support. If it fails, the 50SMA should act as a magnet (currently around $7.30). Yesterday saw IG drop to almost $7.50, so the 50SMA probably will come into play
If there are traders who are short this stock, they may try to hit some stop losses and create a panic dip to the 200SMA (currently around $5.35)
I'm still waiting for the 50SMA to hit, see if there is a retracement to the yellow line. If IG can get above the yellow line, momentum should come back.... however RSI and MACD aren't hinting at that happening anytime soon
the above is all IMHO (consider this my safe harbor statement)
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