GaiaDaughter

IRBT heading down. Be ready for upswing

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NASDAQ:IRBT   iRobot Corporation
IRBT has been falling at a sharp angle, and even with the slight upswing today, considering the pattern over the last several months, I noticed three things. First, IRBT almost always goes down before an earnings report, followed by a sharp upswing immediately after the earnings report. Since the next report is coming out Oct. 28, I believe we will continue to see a downswing for the next few weeks. Second, the RSI is around the 20% mark, and finally, the MACD is above the buy line. So, I don't think now is a good time to buy, but keep a sharp eye out because it will come back. Now, the RSI being so low might indicate the stock is undersold, but in this case, I believe there is good reason.
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Note: I am not a professional. This is merely my opinion based on a pattern that seems to have held for the last year. I make no claim that my idea is correct, merely that this is what I think may happen. It has, so far, always come back, and there are other reasons I think it will rebound. Nevertheless, I am not making a recommendation here. Just sharing an idea.

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