Post by
drbob512 on Jun 23, 2020 5:38pm
T.A. for IIPR for Tues:
IIPR today achieved the Golden Cross, a major Intermed Term bullish signal, whereby the 50dma crossed up over the 200dma. That doesnt mean the stock will automatically rise in the very ST cuz it isnt a ST signal & usually a stock has to rally pretty good in order to get high enough for the 50 to rise above the 200 so a breather can happen before the reinstating the uptrend. IIPR has a B rating & has consolidated betw 95 & 101 the past wk & could consolidate a bit longer, just like LVGO did before breaking out. Difference is when IIPR breaks above 101 & 108 resistance, it won't be a blue sky breakout cuz it traded many days from 100 to 139 since 2019; IIPR isnt close to ATH. Daily parabolic SAR is at 89, a must hold level. Volume has been very light past 2 sessions and narrow ranges too so very soon it will break out above 98 or below 95. Still waiting for DionyMed to be replaced by new tenant: a potential catalyst.