Member Request: A Look at $IIPR

It’s not entirely clear to me how to count this initial move off its high, as I need a couple of additional waves in order to make a stronger case for any one in particular.

I will note a few things. I note that it is right at a level of prior support (green arrow), but buyers have yet to step in strongly as they had the last time we were at this level.

If this level fails, then I would suspect we have passed out of a nest of ones and twos, and that we are in the threes, fours and fives. So, if it fails here, I would expect a series of lower lows before a relief rally that may retest this level we’re at from beneath.

IIPR


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.