III Low Risk Entry Point
In the last 12 months III has traded the most shares at $7.12 with over 70% of trades in the $6.15-$9.68 range. Given the current price of $6.27 this looks like a low risk entry point.
An overreaction to EPS brought the price to $5.88, a level which has acted as support and resistance going back to May 2021.
Price was able to close above the .38 fibonacci level and remain above the (weekly) trend line. In addition, the short and long term force index values are rising and OBV is confirming the rally. The MACD also appears to be curling up although it is too early to confirm.
I will add to my position with a successful test of the trend line or close above the .5 fibonacci level.
target: $7.16, $7.76 in the short to mid term.
An overreaction to EPS brought the price to $5.88, a level which has acted as support and resistance going back to May 2021.
Price was able to close above the .38 fibonacci level and remain above the (weekly) trend line. In addition, the short and long term force index values are rising and OBV is confirming the rally. The MACD also appears to be curling up although it is too early to confirm.
I will add to my position with a successful test of the trend line or close above the .5 fibonacci level.
target: $7.16, $7.76 in the short to mid term.
