I read that article: what a glowing endorsement of IRF: I hated to chase it so didn't buy it when I realized I'd forgotten it by mistake, but since this article shows that apparently IRF is ACTUALLY worth at least twice the price even by conservative figuring, I'll buy some tomorrow, if it doesn't gap up. Freeus
Note that starting 6 sessions ago, the volume as the stock sold off was greater than normal, but systematically decreasing. As the stock traded lower, it found sellers more and more scarce. Yesterday, the volume shot back up. If you look at the hourly chart, I think you can see why:
Beginning the last hour of trading yesterday, an all-out bull/bear battle was being waged, and it continued into today's open. The bears initially had the upper hand, but the bulls showed up in force and stopped the selloff dead in its tracks with the second candle, then turned the tide and rapidly pushed the stock higher, as the bears fled in disarray. After one last gasp (but half-hearted) effort from the bears, the day ended with the bulls solidly in control. This can be seen on the shorter-term intraday (e.g., 15 min).
Based on this, I would anticipate solid follow-through at the open tomorrow. IRF has found its bottom, IMHO. Resistance at 40 will be challenged shortly, and the information from the volume profile very strongly suggests to me that IRF will slice through that resistance like a hot knife through butter.
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