123Tom's TA study group

[123tom]

I bought a bunch of IPIX at 25 today

The basic plunging math target for retrace was looking right at 25 cents. I wasnt surprised to see it go down like this today. Hoping 25 will hold support and the momentum will stay bullish for IPIX. otherwise we could see 20 pretty easy 19 and 17 are math targets as well.
On the upside...resistance is visible at 28 and 32 now. above that 36/39/40
the peaks at 42 area and then a higher rally has math at 50-55-63 -67 area and It isnt looking higher than that 67 as far as math targets go. The key price points overhead are the resistance at 28,32 and 36. which we saw in play today. and down below 25/21/19/17 centered around 20 cents still in play.

Buying at 25 today was strictly technical math for me. my fearful instinct feels more bleeding down to 20 cents wouldnt surprise at all. all it would take is resistance getting hammered at 28 and sending price down to 20.
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a volatile sell off today, but right to the technical support step for the math pattern, at 25 cents.