ISV - Sector: Healthcare --- Industry: Biotechnology & Drugs

[bocasva]

Couldn't resist yesterday buying back the 1/2 I had sold.
I will wait for ISV to break above 1.50 for greener pastures or kiss it good bye if it closes below 1.35.

[bocasva]

Watch volume and price action closely on this one from now into next week as it wants to breakout above the 200ema and 1.50 for good........

[bocasva]

Trade is going as expected......200 ema will be taken out any day this week, maybe even tomorrow..moving my stop up to a close below 1.40

[bocasva]

ISV going higher now......

[bocasva]

Moving my stop to <1.50 on close to protect my profits.

[Melf Elf]

Moving my stop to <1.50 on close to protect my profits.

Bocasva,

You've done a very nice job on this trade.  Applause.

Coming off the 1.24 low, ISV initially got stopped at the red trendline resistance (Purple #2), but managed to get through it last Tuesday (Purple #4).  Unfortunately, that didn't hold up, and the pattern in purple is looking like a Bear Flag.

Wednesday's low was 1.48, just a hair below the 50DMA which is at 1.4976, then it recovered, to close at 1.56.  Friday, it hung around there on "no volume" post-holiday trading.  That's fine.

It looks like it wants to go higher, and take out near-term 1.65-1.67 resistance, doesn't it?  I'll post you the Ichimoku Kinko Hyo chart next, which indicates that ISV is well-positioned to move higher. 

But, I think you're wise to protect your profits, in case it doesn't.

Good luck with your trade.  You've managed it very well. 

[Melf Elf]

Ichimoku Kinko Hyo chart:

[bocasva]

Thanks Melf Elf for the detailed TA. 
ISV having a hard time staying away from 1.50 so I might have to jump ship tomorrow.

[Melf Elf]

ISV having a hard time staying away from 1.50 so I might have to jump ship tomorrow.

bocasva,

Probably not a bad idea. 

The 50DMA now is 1.496, just below yesterday's low of 1.50, so it held on right there.  Last Wednesday's low was 1.48, so if 1.47 gets printed today, good chance that ISV will head at least for the bottom of the Kumo (Cloud)/ the bottom of the Flag.

Data points for today, November 28:

1.425 is the bottom of the Kumo (Cloud)

1.404 is the bottom of the Flag (pattern in purple)

Good luck!  I hope it rallies for you.

[bocasva]

Finally a nice bounce off 1.50 support.

[Melf Elf]

Finally a nice bounce off 1.50 support.

Bocasva,

This is shaping up very, very nicely!  If ISV weren't so thinly traded, I would buy it right here.

Moving my stop to <1.50 on close to protect my profits.

I'm all for protecting profits, but you might want to rethink that stop.  You don't want to put it so tight that you get jiggled out of what looks to be a very nice play.  It's YOUR MONEY, so naturally, you decide what kind of risk you want to take, but see what you think of this:

1. ISV had a "false breakout" of an Ascending Triangle (pattern in blue) that morphed into a Bear Flag (see the chart that I posted to you before).

2. Then it came down for a "possible" Double Bottom, at 1.20 - 1.24.

3. After the first rally attempt off 1.24, ISV came back and found support at the 8-day (solid green) and 22-day (solid red), which had a Bullish Cross.  Nice.

4. MACD came back to its signal line on November 13, then banged higher the next day.  Nice.

5. The 13/21 RSIs, and the next pairing in the Fibonacci Sequence, the 21/34RSIs, both gave a Buy Signal on November 16, on the print of 1.49 (just below your stop, but that might get tested one more time, and you'll be stopped out).

6. On the current selloff, the RSIs have come into Bullish Synchronicity again, only this time, the next pairing in the Fibonacci Sequence, the 34/55RSIs also have come into Bullish Synchronicity.  A print of 1.59 here is a Buy Signal.  ISV closed at 1.57.

7. MACD went up through the zero line on November 20, came back toward its signal line during the current selloff, then ticked higher yesterday.  Nice.

8. The rally off the 1.24 Double Bottom to 1.65 established the second data point for the 1.67 - 1.65 neckline of a Bullish Inverse H&S.  The current selloff is the Right Shoulder.

Although this has been somewhat of a nail-biter for you, wanting to see 1.50 hold to protect your nice gain, and also wanting to see that danged thing BREAK OUT, this selloff has been very purposeful and won't have been for naught if that 1.67-1.65 neckline gets taken out to the upside.

Purposeful, in that the technicals are "in gear" for a rally, the Right Shoulder of the Bullish Inverse H&S is near completion, and ISV is "good to go" on the upside, on a breakout above 1.67-1.65.

If it does break out, 2.08 will be IN PLAY.  Math is on the chart.

If 2.08 gets MADE, that also will be a breakout of a W-Bottom, above the August 30 high of 1.97, which would be a larger pattern breakout, and which would put a higher target IN PLAY.  We can discuss that "if/when..."

Back to your stop: YOUR MONEY, but given the Bullish factors here, you might want to give it another few pennies.  The low of the Left Shoulder is 1.41, so this Right Shoulder should NOT go below that.

Good luck!  I'd love to see this thing take off for you.  You've done a very nice job on it.  Applause.

[Melf Elf]

Here's the MACD chart.  Interesting how the price chart currently is a "fractal" (repeating pattern) of the Inverse H&S pattern here, which already broke out.

[Melf Elf]

13/21 RSIs

[Melf Elf]

Bocasva,

I like this chart so well, and like the fact that the 1.59 Buy Signal got printed on this morning's move to 1.62, that I decided to violate one of my rules (Don't Buy Illiquid Stocks), and put in an order to buy when ISV came back to fill the morning gap at BID 1.56...ASK 1.57.

My order is for ALL OR NONE at 1.57.  You can see on the quote chart to the left that those jokesters IMMEDIATELY moved the stock to BID 1.57...ASK 1.59.  That's why I hate to play illiquid stocks.  They toy with you on the spread, and move the BID...ASK up on you (or down, if you're trying to sell).

At any rate, I'll leave my order in for 1.57, which should create a floor for you.   

ISV currently is BID 1.58...ASK 1.60

They're having fun, toying with me. 

[bocasva]

Bocasva,

I like this chart so well, and like the fact that the 1.59 Buy Signal got printed on this morning's move to 1.62, that I decided to violate one of my rules (Don't Buy Illiquid Stocks), and put in an order to buy when ISV came back to fill the morning gap at BID 1.56...ASK 1.57.

My order is for ALL OR NONE at 1.57.  You can see on the quote chart to the left that those jokesters IMMEDIATELY moved the stock to BID 1.57...ASK 1.59.  That's why I hate to play illiquid stocks.  They toy with you on the spread, and move the BID...ASK up on you (or down, if you're trying to sell).

At any rate, I'll leave my order in for 1.57, which should create a floor for you.   

ISV currently is BID 1.58...ASK 1.60

They're having fun, toying with me. 

Melf,
I know what you're talking about....I also hate playing hide and seek.  Low volume stocks are harder/riskier to play, I usually buy limit AON at prior conservative known supports running the risk of not buying in at all but also limiting the risk and maximising the reward in case I get in.

Best of luck to you Melf.