IEX looks good for Swing Trade on the Daily Chart.Technical Analysis
Figure 1
1) Bollinger Band squeezed and formed a pipe-like structure.
2) Breakout of the upper band.
3) RSI > 6
4) MACD Bullish Crossover and histogram gives the buy signal.
Figure 2
We use Exponential Moving Averages of 20, 50, 100 and 200 periods.
- The averages are expanded.
- The price is testing its 100ema
- The overall structure looks bullish and the price can test its 200ema which is at the level of 155.75
Resistance - 153
Conclusion:
The stock looks bullish. It can test the levels of 153, 155.
Thanks
Er. Simranjit Singh Virdi
