Ionics Incorporated (ticker: ION) is one of the favorites for those speculating on the Internet of Things movement (or hype). It’s been more than a year since its big move that propelled its price from ~P0.50 to P4.18! Any day now, the consolidation phase could and and we may see this stock revisit its previous high.
Update September 17:
-Stochastic – bullish divergence
-RSI – Between 37 to 47 for the past days. 37 is now established as the support level.
Original Post September 05:
-Retested (and rejected by) the fibo retracement levels several times. If the price breaks the fibo levels in the coming days, then it means that the rejections are just shake-offs.
-Pattern looks like a pennant.
-Current price is at the pennant support.
-Stoch – on the bounce
-RSI – trying to keep itself above 40
-ADX – going to consolidation level
-DMI – bearish crossover