$INBI >> Technical Analysis Please refer to the
Post# of 378
Please refer to the chart found below.
1.) The RSI (relative strength index) has reset, providing plenty of upside potential. It’s currently sitting at 48.05, which is just 1.95 points away from being in what’s considered the “buy zone” of 50-70. Notice that the 5 period RSI is currently at 46.04
2.) Bollinger bands, which are an indicator of volatility, are currently sitting pinched tightly and within the Keltner Channel bands while in a period of channel consolidation. This is a sign that INBI could soon see what’s called a pinch play. This is when the Bollinger bands spread apart rapidly and break out of the Keltner channel bands. This is usually a very powerful breakout.
3.) The Parabolic SAR (ParSAR) indicator is currently sitting right on top of the current price per share. With one uptick from current levels, the ParSAR will flip on the daily chart, which is a sign of a changing trend. This new trend will be considered bullish.
4.) Take a look at the MACD and TRIX. These are short-term momentum indicators, and they are currently intersecting and about to make a bullish crossover with positive divergence. These indicators are about to become very bullish.
5.) Note the “Volume by Price” on the far left of the chart. You’ll notice that there’s much more green volume at higher prices, like the range from .06 to .065 that saw over 90% in ask slapping volume. This means that a lot of traders accumulated shares at higher prices than INBI is currently at, and many of them will be holding to see profits or at least to get out even. This should help INBI to move up hard and fast.
6.) We’ve been seeing huge volume green days lately with much smaller volume sell-offs. This means huge accumulation.
7.) Another sign we’re seeing of accumulation here is the Chaikin Money Flow (CMF) indicator. Notice that it’s currently sitting at .572. A CMF of .2 is considered bullish for retail loading, a CMF of .4 is considered extremely bullish for retail loading, and INBI is at .572. It looks to be under heavy accumulation.
8.) The Williams%R (Wm%R) indicator is showing “overbought” with consistency lately. This is one indicator that it’s actually good to have an overbought signal on. This is another momentum indicator that is telling traders that the stock is about to make a bullish move.
9.) The Rate-of-Change (ROC) indicator is spiking into bullish territory, and this is another momentum indicator. The sharp spike indicates that an uptrend is starting to gain traction.
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