Quick look at
IXR
after a big end to last week.
What has happened?
Where to from here?
IXR
after a big end to last week. What has happened?
- After a huge run up between May 2019 and October 2019,
IXR
topped out at $0.015. During the ensuing months,
IXR
found support at the 0.5 fib resistance (Support 1) which held until COVID-19 when this level turned into resistance (Resistance 1).
- IXR bottomed out at the 0.786 fib resistance level (Support 2), confirmed by the WVF market bottoms and MACD crossover.
-
IXR
has since been in an uptrend and has broke through Resistance 1 and Resistance 2 ($0.013) - which has now turned support (Support 3).
- The previous high of $0.015 was broken through in early October and up until Friday had formed a new level of resistance (Resistance 3).
Where to from here?
- After Friday's +18% day, expect new support at either the previous Resistance 3 ($0.015) or Support 3 ($0.013).
- MACD crossover indicates potential for some more green days, however both the MFI / RSI / Stoch are all heading toward overbought. Based on this it would be worth watching for retracement to one of the points above.