IO - The Fundamental Case for Ion Geophysical Using a Price Based Model
Traditionally Wall Street has used fundamental analysis to make investment decisions in stocks like Ion Geophysical (NYSE: IO) but sometimes the most revealing aspect of the fundamental health of a company can be found through an observation of its price action. Price action was used to produce the raw data below for IO and it can be used as an example of how to use price action to define fundamental opportunity. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Weak | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 1.94 | |||
| P2 | |||
| 2.40 | |||
| 2.39 | |||
| 2.69 | |||
| P3 | |||
| 0 | |||
| 2.76 | |||
| 3.68 |
Long Term Trading Plans for IO
April 14, 2021, 7:15 pm ET
The Technical Summary and Trading Plans for IO help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this IO Report.
IO - (Long) Support Plan
The technical summary data tells us to buy IO near 1.94 with an upside target of 2.69. This data also tells us to set a stop loss @ 1.93 to protect against excessive loss in case the stock begins to move against the trade. 1.94 is the first level of support below 2.34 , and by rule, any test of support is a buy signal. In this case, support 1.94 would be being tested, so a buy signal would exist.
IO - (Short) Resistance Plan
The technical summary data is suggesting a short of IO as it gets near 2.69 with a downside target of 1.94. We should have a stop loss in place at 2.7though. 2.69 is the first level of resistance above 2.34, and by rule, any test of resistance is a short signal. In this case, if resistance 2.69 is being tested, so a short signal would exist.