IVR reversal to $3.30, prep for Long/CALLFundamental analysis indicates IVR has seen the worst of its COVID related impacts, since 23MAR20 it has slowly been recovering (roughly 80%). Sentimental analysis sets the stage for a continued recovery as the housing market performs well as interest rates are being kept low encouraging purchases. Technical analysis shows IVR has developed a pattern of growth and sell off over the past 18 days. There has been a ~5 day growth period followed by a ~1 day sell off. The next iteration of that pattern seems poised to commence. The RSI confirms that pattern and likely reversals (above 70). Wait for a reversal early confirmation of MACD crossover over the 0-line, and final confirmation of 13 SMA crossing under 30 SMA before purchasing long position (this final confirmation may cause too much lag to get in for maximum profit).
On this stock, I favor the Long position as it currently offers ~30% dividend. Getting in low with considerable room for growth is a good long term position.
Entry price - $3.30-$3.35
TGT Sale price - $8 (medium term) / $18 (long term)
Stop loss - $2.5
Max position size - 5% of portfolio
