Needs to reclaim $83 or 200 day. Took starter pos last week
If we break the $90 level of this double top neckline we will look to target $75-$78. That is a huge demand level and the 200 ema is in that area. If you look in the past price likes to hug that 200 ema.
IPGP is a possible near-term buy opportunity. It is not trending well so is not a longer-term trade right now. Yesterday's gap up offers a near-term buy due to the increase in volume on both this and the previous bar. Friday's bar (6th February) was actually more bullish and broke out above the strong resistance (at $78.59) and above the round number ($80)....
IPGP expected to open at 78.80 clearing recent pivot points making this a Retest Gap. Watch out for low volume today which can lead to getting filled at a different price than you wanted. To learn to trade Retest Gaps for free, go to www.RealLifeTrading.com