INO: the detail those who shorted the stock may have missed
In theory of technical analysis a descending triangle is a bearish pattern that completes itself when price breaks out of the triangle
in the direction of the downtrend. However, for the downward break out of the descending triangle to be true there is an all-important
assumption: this pattern is formed in a middle point of an extended downtrend. If the descending triangle is formed just under the top
of an uptrend then the pre-existing trend is upwards, the pattern is bullish and price breaks out of the triangle in the direction of the uptrend.
Perhaps the hedge funds that shorted INO missed this detail, considering the easily spotted pattern as bearish.
I can’t explain other way the fact that INO has a sort interest of 33.80%, being one of the most shorted stocks in the market.
In case I'm right, an epic shorts squeeze is about to follow.
Next are presented the Mid- and Short-term trend analysis.
Prompt
New traders should take some time and carefully read the post they will find on my profile entitled 'You can't beat the market'.
Disclaimer
The author of this text is not an investment advisor. The preceding content is intended to be used for informational and educational purposes only.
It is not an advice or inducement for the purchase or sale of the products mentioned. Before making any investment based on your own personal circumstances,
it is very important to do your own research and analysis and also take independent financial advice from a professional to verify any information provided here.
in the direction of the downtrend. However, for the downward break out of the descending triangle to be true there is an all-important
assumption: this pattern is formed in a middle point of an extended downtrend. If the descending triangle is formed just under the top
of an uptrend then the pre-existing trend is upwards, the pattern is bullish and price breaks out of the triangle in the direction of the uptrend.
Perhaps the hedge funds that shorted INO missed this detail, considering the easily spotted pattern as bearish.
I can’t explain other way the fact that INO has a sort interest of 33.80%, being one of the most shorted stocks in the market.
In case I'm right, an epic shorts squeeze is about to follow.
Next are presented the Mid- and Short-term trend analysis.
Prompt
New traders should take some time and carefully read the post they will find on my profile entitled 'You can't beat the market'.
Disclaimer
The author of this text is not an investment advisor. The preceding content is intended to be used for informational and educational purposes only.
It is not an advice or inducement for the purchase or sale of the products mentioned. Before making any investment based on your own personal circumstances,
it is very important to do your own research and analysis and also take independent financial advice from a professional to verify any information provided here.
Yorum:
Correction: The weekly volume was 141M, not 72.7M which is the moving average of last 20 weeks.
