Dear all,
It has been a hectic week. 3 stock charts caught my attention, together with their price action yesterday.
- Innovalues – potential chart breakout
It closed +0.065, or 10% to 0.720 yesterday. Day range 0.670 – 0.730. Ave analyst TP: $0.980. Estimated dividend yield is around 4.5%.
Noteworthy points
- 3Q results – if I based on their historical performance, it is likely to be good. This is because company has typically met and usually exceeded estimates;
- Chart seems to have broken out from the recent tight trading range of $0.630 – 0.675 on a six month high volume. If it can break $0.725 – 0.735 with volume, an eventual measured technical target is around $0.840. This also coincides with point 3 below and the 76.4% Fibonacci retracement. Indicators such as MACD and RSI ...
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