I am in the market for stocks who have rallied hard and are now extremely overextended and vulnerable to a corrective sell off. IART is one such candidate. Anyone long in this trade is probably in the money and not wanting to lose a good profit. Punters may be wanting to buy hoping for another strong advance that will not materialise until a correction takes place. In any case, there is a cluster of stop losses below current levels that are likely to trigger a cascade of selling. This I believe is the most likely scenario. There is a chance that buyers may push price higher but that would only offer a more favourable risk reward scenario.
Note
Over the last 10 trading daws momentum has slowed and the stock is showing signs of rolling over. Time will tell.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.