strong buy
INJ Breakout Supports Bullish Revival with Key Support Hold
INJ has exited its extended descending trendline and established a pattern of higher lows. Following a rally, the price is now retracing back to test the previous breakout trendline, which acts as a support level. Maintaining this support between approximately $9.50 and $10.00 is essential for the continuation of the bullish trend. If the price successfully rebounds from this zone, it could ignite a new upward movement with potential targets at $16, $25, and possibly exceeding $40. Conversely, if the price drops below this ascending support line, it could negate the short-term bullish scenario.
Source available for registered users Sign Up Free
AI Analysis
The recent price action of INJ indicates a strong breakout from its long-term descending trendline, signaling a potential reversal in trend. The formation of higher lows suggests increasing bullish mo...
AI Recommendation
It is advisable to monitor INJ closely as it approaches the critical support zone near $9.50 to $10.00. If the price shows signs of a strong bounce and trading volume picks up, consider entering a lon...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
don't buy
strong buy
strong buy