IDN

IDN on the DAILY 

Couple of points to make here. First you can see there is a support at around .45. Second its bounced off the .45 pretty heavy each time. Third there is a huge bull candle which covers a range between .45-1.00 that is a wide spread! The volume also indicates strong buying pressure for the past 4 business days. Lastly, if you look slightly to the left you will see a long white candle that ranges from .45 - almost .70. To me this shows that the stock has some serious demand still at the .45 regardless of its downtrend. The doji candle showed to us a sign of a pullback at the .45 which also indicates a reversal pattern.


 
                                                                     IDN on the WEEKLY

The weekly chart shows us good buying signals in a different perspective and we must always try to incorporate different chart periods when observing potential plays. What we you see here if you break up the pattern into segmented parts then you will find its forming a Flag formation (higher lows + lower highs). Typically Flag formations come to an ultimate point where it will consolidate then pop or drop. I believe this stock will go up in value because of the signals described above but if it doesn't for some reason or another I have placed my stop loss below the 52 week minimum @ .24. My position is 400 shares and the first exit im taking to lock in gains is 0.7 releasing 140 shares and locking in $30.

Next exit @ $1.00 releasing 55 more shares locking in about $30

Remaining 205 shares  "ride or die" 

205 @ $2 = $310 

Stop loss = $100 Loser

"these are just my opinions and not a buy or sell recommendation. i hold a position in this company but they are not paying me to post this".