an honest question worth an answer:
think of the trading range as a room with a ceiling (resistance) and floor (support). in this case, you gotta' nail down the bottom. testing it twice isn't necessarily enough.
generally speaking, fwiw, a stock won't move through either floor or ceiling without testing their strength -- floor support is the more important basis. the reason the recent drop in INMG was severe was because there wasn't ample floor support.
btw, despite the consensus of posters who have nothing more than a rudimentary, if that, knowledge of charting, this has not yet reached true oversold territory.
rich
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