Inovio Pharmaceuticals Inc (INO)

[mmrich1]

We can debate the price movement today until the end of time. I said yesterday that a classic 50% correction pattern was formed and if you go strictly by charts we should have a bullish reversal if we get confirming signals. MACD, RSI. Well we got those and we took off, we also printed a tall white candle today which is also bullish. I also said today that if we can strongly clear 1.62 we would see a squeeze. It took 3 or so tests of 1.62 and things popped a little, squeeze, maybe not, but pop yes. I think assuming no news good or bad that we will stairstep our way right back to 3.00 within 2 weeks however we will most definitely revisit 1.62 probably more than once and will probably revisit 1.45 to 1.52. If you are looking to unload half of your position to take some profit and looking to re-enter at a lower price to build up again remember this. 1.62 is a brick wall in INO.