$INVE taking a breather or beginning trend reversal?

INVE

Good evening traders!

I recently stumbled upon $INVE and its been all around appealing to me so far, with technicals and fundamentals.
Today I was looking to add to my positions and at first glance it seems that INVE is at a great place to make another entry.

It appears to be taking a breather before going on yet another healthy rally to continue its consistent uptrend so far.

However, looking at some more long term Support & Resistance points (when in doubt, zoom out!) it seems that the ~$5.5 price level has historically been a difficult price to successfully break through
At this point, I'm approaching this stock with more patience, as it plays out and shows signs of either reversal to a downtrend or confirms continuation of the current uptrends.

breaking below $5 will be a point to look out for-
Continuing to drop down to the ~$4.50 @fib levels, and I'll consider this more likely a reversal to downtrend.
For investors this wouldnt be a worry, as this seems to be a strong company so far with promising opportunities in the long term

As an active trader its been fun to mark the stable uptrend and ride the gains with it.
With my holdings bias, I'm hoping we drop to a stable level of ~$5 or slightly below it, only to rally back up and shoot for a target price of $7.25

Happy Trading!

تم فتح الصفقة:

Are we going to hold this 0.786 support line, or start to trend upwards?
Right now my $ is on INVE going back upwards to a target of ~7.5

تم فتح الصفقة:

this is a crucial point for INVE price IMO

if we hold above this ~4.55 level we can start to seek confirmation of upward trend.
however if this point turns into resistance, we can assume that we are continuing downward for an undetermined amount of time and possibly enter a short term play to reflect our prediction through either shorting the stock, purchasing puts, or selling calls.

أغلقت الصفقة: تم الوصول للهدف:

Nothing crazy, haven't made note-able gains on this one, but have been gaining nonetheless. Playing the Wheel on this one by selling calls on my shares to collect premium while we watch it play out- this way there is still income being generated if it falls. If the sold calls get assigned I collect the money from the sale + the premium from the calls. By selling call with a strike price at, or above, my purchase price of the underlying, this strategy is a conservative means to regularly generate income.

Happy Trading!