$IMXI another Relative Strength Setup$IMXI is also looking promising and showing that relative strength that you should be looking for in a bear market.
IMXI trade ideas
$IMXI is one to keep a close eye on as it builds a pivot.Technicals:
* Very good earnings quarter over quarter
* Steady up trend and seems to be starting a new leg higher
* Sector: Technology - Information Technology Services
* Relative Strength vs. Sector: 4.17
* Relative Strength vs. SP500: 7.42
* U/D Ratio: 1.45
* Base Depth: 27.85%
* Distance from breakout buy point: 12.87%
* Volume -24.65% below its 15 day avg
What to look for:
* Broke out of an 18 month base with tonnes of volume
* Is now building a smaller base after a ~41% move
* Consolidating price action with decreasing volume indicates that sellers are running out of steam
* Look for a break/close above $21.8 with volume.
$IMXI broke out with a tonne of volume! Will it hold?* Great earnings
* Possible start of a stage 2 up trend
* Sector: Technology - Information Technology Services
* Relative Strength vs. Sector: 2.82
* Relative Strength vs. SP500: 4.8
* U/D Ratio: 1.53
* Base Depth: 27.85%
* Distance from breakout buy point: 7.07%
* Volume 153.75% above its 15 day avg.
Thoughts:
* This, at the moment, seems short term extended and may offer a pull back entry.
* Looking at the weekly/monthly charts it does seem like the start of a stage 2 up trend.
* If it does offer a pullback entry, the best case scenario would be a buy opportunity around the $18.96 area.
* Given how it broke out, it may consolidate around the highs for a while and offer an entry somewhere around there.
This is one to keep an eye on for sure.
Trade Idea:
* Not actionable at the moment.
IMXI hop on the money expressBreak of channel here, wait for slight retest on a lower timeframe and look for entry to top weekly trendline where the major resistance is..
I will enter on buy confirmation on a lower timeframe if it lines up with my other confirmations.
Thank you! Good luck
IMXILooks like IMXI may have found support at 15.91 (100% fib retracement) Resistance at 16.46 and the first target of 16.85 and then 17.27
