INVE Identive Group Daily Chart Oversold Falling Wedge Positive Divergence
INVE is a play Keystone opened on Wednesday. The falling wedge, oversold stochastics and positive divergence is attractive. The weekly chart is positively diverged as well. Of course this is a penny stock, thinly-traded, so the trade is speculative in nature, but most trades are on this site. Watch to see if price can poke above the 20-day MA. Note the intial bounce yesterday, we will see if this leads to further upside moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Keystone,
ReplyDeleteI still wonder why you have not taken the VIX (option expiration) next Wednesday into account or maybe you have and have factored it in? I have found the market will rally at about T minus 4 days to the call day (Thursday was T-minus 4 days). Not very surprising considering the stakes on the expiration of options. To me this is the Bulls attempt to just grind salt into the bears wounds. It will be close, the VIX by my books should hold at 13.75 for the most part as the bounce point for its return. This occurred today (13.45 close) and I am sure you noticed the high swings in the markets, both in Europe and the US. The other note is there is basically no US or major EU economic news to drive the market down, until Thursday after the expiration date. Should be a jolly good fight to watch Monday and Tuesday regardless of who wins on Wednesday, but if the market keeps climbing untill and into Wednesday, the remaining part of the week might get ugly.