IIPHI has been building up a nice symmetrical triangle lately. One way to play is to enter on a support - as a anticyclical trade with a favorable risk ratio.. This support was presented by bouncing off the ema_50d. The volume is contracting ever since which is a confirming aspect.
A possible trade might be: Target zone: $ 130 Entry: $ 110 Stop: $ 105
What are your thoughts about it? Also in current setup.