The Long Investor

$IQ

Added 2024-06-04 15:06:59 +0000 UTC

$IQ is also a Chinese Stock which I have no issue holding

And in this sweet spot where both fundamentals and technicals have aligned to show an undervalued position that is perfectly ready to make a strong move.

The pull back since the earnings has allowed a retest of the 50 Day MA and the 0.5 Fib but has also helped the RSI come down to 38, it was at 86 just before earnings.....so it is creeping towards the 30 oversold territory.

We can't rule out the price action testing the 0.618 Fib which is exactly on the wedge breakout level.

I have my two buys in for $IQ now so I am happy until I see a bounce now to add again

This is where you need to dig deep and not do what you may have done in the past and panic when there is a pull back......for the price action to bounce hard and you have sold.

Let's stop the cycle of making bad decisions and work the correct way.