Let me say first that I am positive for this company. I also wish to add that I own stocks and I am waiting for more clarification to increase the position. My target price is $50+
As to the technical analysis: The first approach is the one of 5 Waves up. We had 1,2 and 3, we may have seen 4 or we are close to the end of it, and waiting for Wave 5 up. Above the red line, Wave 5 will be confirmed while below the blue line we could have another approach. So, the second approach is to have 3 phases A,B and C. In such a case B can end (not obliged to) at the green rectangle.
What I want to stress is that both calculations (5 waves or A-B-C) will give a much higher target price. So, all we have to do is wait for more clarification. There is no need to rush, once it starts going up the profits will be superb.
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Today's move in IQ reinforces the probability that we already had Wave 4. Let's see how it will close the day.
Thanks! Hard to sit on the fence today when I plan to double my current position to lower my average price at the bottom but the current move up is most likely a short term response to new trade talk prospects in the news.