INJ - Higher
Last night we added to our INJ position at $36.50, Here's why...
Looking at price action we had a symmetrical triangle the broke out of the pattern on Feb 12th and retested the pattern on Feb 23rd before having a 67% move to the upside. What we have noticed recently is how well the strong support from that pattern has continued to hold up price (green circles). The $30-$35 range has also be a strong accumulation zone that will be looked back on from the future.
Looking at our RSI we also see a pattern forming. We have a red trendline of downwards momentum and a green trendline of upwards momentum. Recently, we just bottomed again at our green trendline. Once, we break the red trendline we will go back to new highs.
Looking at price action we had a symmetrical triangle the broke out of the pattern on Feb 12th and retested the pattern on Feb 23rd before having a 67% move to the upside. What we have noticed recently is how well the strong support from that pattern has continued to hold up price (green circles). The $30-$35 range has also be a strong accumulation zone that will be looked back on from the future.
Looking at our RSI we also see a pattern forming. We have a red trendline of downwards momentum and a green trendline of upwards momentum. Recently, we just bottomed again at our green trendline. Once, we break the red trendline we will go back to new highs.
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