$IMXI broke out with a tonne of volume! Will it hold?
* Great earnings
* Possible start of a stage 2 up trend
* Sector: Technology - Information Technology Services
* Relative Strength vs. Sector: 2.82
* Relative Strength vs. SP500: 4.8
* U/D Ratio: 1.53
* Base Depth: 27.85%
* Distance from breakout buy point: 7.07%
* Volume 153.75% above its 15 day avg.
Thoughts:
* This, at the moment, seems short term extended and may offer a pull back entry.
* Looking at the weekly/monthly charts it does seem like the start of a stage 2 up trend.
* If it does offer a pullback entry, the best case scenario would be a buy opportunity around the $18.96 area.
* Given how it broke out, it may consolidate around the highs for a while and offer an entry somewhere around there.
This is one to keep an eye on for sure.
Trade Idea:
* Not actionable at the moment.
* Possible start of a stage 2 up trend
* Sector: Technology - Information Technology Services
* Relative Strength vs. Sector: 2.82
* Relative Strength vs. SP500: 4.8
* U/D Ratio: 1.53
* Base Depth: 27.85%
* Distance from breakout buy point: 7.07%
* Volume 153.75% above its 15 day avg.
Thoughts:
* This, at the moment, seems short term extended and may offer a pull back entry.
* Looking at the weekly/monthly charts it does seem like the start of a stage 2 up trend.
* If it does offer a pullback entry, the best case scenario would be a buy opportunity around the $18.96 area.
* Given how it broke out, it may consolidate around the highs for a while and offer an entry somewhere around there.
This is one to keep an eye on for sure.
Trade Idea:
* Not actionable at the moment.