Text me if you have any questions/comments for me.
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INR
- Previous analysis was done on 31 Aug -> suggested waiting for retracement and successful rebound before plotting entry
- Since then, the stock flew like a rocket
- Today, the rocket’s parachute didn’t deploy -> Stock dropped almost 19% with above average volume
- Today’s price action is nothing new as stocks that have gone up a lot usually will have a sudden and sharp price reversal
- There is no structure break as of today but there is definitely a tear
- If the stock continues to break to the to the mid-term support or even falls below the 50-cent psychological support, there is not much hope left for the stock
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound
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INR
- Previous analysis was done on 31 Aug -> suggested waiting for retracement and successful rebound before plotting entry
- Since then, the stock flew like a rocket
- Today, the rocket’s parachute didn’t deploy -> Stock dropped almost 19% with above average volume
- Today’s price action is nothing new as stocks that have gone up a lot usually will have a sudden and sharp price reversal
- There is no structure break as of today but there is definitely a tear
- If the stock continues to break to the to the mid-term support or even falls below the 50-cent psychological support, there is not much hope left for the stock
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound