Trending into ANDA, shares of INNV are getting harder to find driving the price up. What's silly is posters attempting to ward off buyers by saying a pullback is imminent. Of course stocks don't go straight up, of course there are pull backs. Failure of technical players (or possibly with an agenda) to recognize other indicators besides the RSI to see the full potential of a play can lead to leaving quite a bit on the table. And eventually leaving some behind or with much smaller positions.
Just to clear something else up. The power zone potential of the RSI goes well into the 90's. Stocks with momentum can reset very quickly bringing the bollingers up to meet the reset price while letting the RSI settle for the next move. Only pulling back a few points as the float tightens up further. Note the other indicators following the bullish move like the ADX showing divergence is just starting to move over its divergence line.
At the end of the day it's not just that INNV is moving into the overbought range on some indicators, it has not sparked a major run up so fast that it peaked everything out at once. This has been an excellent slowly moving (by many standards for multiple days) stock. Where's the herd? Volume itself is another tell, just now breaking new highs in July to start challenging resistance levels seen at the end of May. Volume levels that this stock hasn't seen in years, if ever.
I'm not saying don't sell to protect your capital, or to cover your initial purchases to ride free. I have already taken some off myself. More to the tune of letting the winners win. And make your own decisions.
GLTA and all IMHO.
"Perfection is not attainable, but if we chase perfection we can catch
excellence." Vince Lombardi
Do your research! Play the TA. All posts are my opinion.
