Rose or Weed?
Part of the value of doing your homework each night
is identifying potential setups well before they reach maturity. Armed with a
short list, you can calmly watch the action and access your setups’ potential
weed and prune the list as you go.
This chart of Investor Financial Services
(
IFIN |
Quote |
Chart |
News |
PowerRating) could be rose or a
weed. Only time will tell.
Wednesday, IFIN broke below support at its two-week trading
range. If the breakdown holds, it could freefall down to the next potential
support which I view as more solid. There you have a combination of IFIN’s
50-day moving average, one-month range-lows, and its 50-day moving average.
If a positive tone in the market can take hold and stick,
thereby lending a helping hand to IFIN, then we could see a good bounce when
IFIN reaches this more robust support level.
Added to all this is the fact that IFIN has a TradingMarkets.com
12-month RS of 95, a six-month RS of 94, and a three-month RS of 95. This suggests
that the strength in the stock is not a flash in the pan and that momentum is on
IFIN’s side.
Till Thursday,