Innovation Pharmaceuticals Inc (IPIX)

[Citrati]

Howdy,
Don't know for sure but so far odds favor up. I prefer we have no closes below 3.30 as I would like to see that as support for next leg up. 3.40's support would be even better. What I would NOT like to see is the bb mid line (20) flatten again. I want the 10 day to stay on top of that 20 day and the 50 day to maintain its degree of slope. It would also help for the adx black line (trend strength) to move on up in sync with price while the green +di does not rise excessively above the black. Want to see that black adx begin to lead the rsi thus showing significant strength which will allow rsi to go overbought and then remain there for a while as we get this rocket out of lift off and on to higher thrust stages. The 2 1/2 month bottom up trend has held nicely and been tested.
http://stockcharts.com/h-sc/ui?s=CTIX&p=D&b=5&g=0&id=p89870572818
CTIX has the news to accomplish this, just a matter of when it comes.
Your downside point locations are obviously accurate, but selling volume at present should not bring anything under 3.15 into play and most likely not 3.20's. The fly in the ointment would be if a stop sweep gets triggered and the fear of losing profit scares weak knees into selling. That would be a temporary ST event unless news is unnecessarily delayed.
While possible, I don't see another .60 swing in the tarot cards without a large precipitating factor.
CTIX is about as well set up as any trader/investor could hope for IMO.
Could get more detailed, but would have to put on my body armor. All just a bunch of personal opinion. News trumps all and will be the engine behind what comes next.
Another good CTIX day. Other than newcomers I hope no one is on the sidelines. Being all in is a personal choice, but IMO being all out or mostly out will bring a lot of chasing. Nothing wrong with scaling the buys. Time will tell.
Be Green