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Innovation Pharmaceuticals IPIX
Posted On: 12/13/2012 10:24:41 AM
Post# of 72446
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Posted By: TOB



Parabolic trend-line intersects at $1.29



So possible, but a big move. It depends on were new buying pressure occurs and whether it holds the selling pressure.



Also, how many of the break-out shares were traders? And how many buy and hold longs?



The traders tend to take profits, or flee if they're slow or without a clear plan, the longs hold. But... support is always new buying. Longs don't add to support if they don't buy more, but they also don't add selling pressure.



So far a body back in the 5MA as I mentioned yesterday, never more than 2 days without this occurring so far since the September break-out.


Click Chart to see full sized version!
















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