This INJ setup, is has a strong bottoming pattern.
To the left is a strong move down with a hard bounce. This level would be identified as a strong support level.
The marked continued to go down and the broke the support. it then flipped to resistance but right below INJ formed a rounding bottom and eventually broke through hard.
Now the price is coming down to that same level, and it should act as a strong support area.
INJ is forming a Adam and Eve rounding bottom, which is a strong signal on a reversal
A breakout of the triangle, - depending on when it breaks has the capability to reached the breakout level of the rounding bottom.
If this setup plays out perfectly there is a 120% profit potential over time..
To the left is a strong move down with a hard bounce. This level would be identified as a strong support level.
The marked continued to go down and the broke the support. it then flipped to resistance but right below INJ formed a rounding bottom and eventually broke through hard.
Now the price is coming down to that same level, and it should act as a strong support area.
INJ is forming a Adam and Eve rounding bottom, which is a strong signal on a reversal
A breakout of the triangle, - depending on when it breaks has the capability to reached the breakout level of the rounding bottom.
If this setup plays out perfectly there is a 120% profit potential over time..