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In this video we establish new levels of resistance and support for IDEX to prepare for the upcoming trading day.
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What is up, everybody welcome to trace trades, where we give technical analysis on different stocks in the stock market, as well as buy hold or sell opinions on these. Given stocks. I'd like to preface by saying that i am not a financial advisor nor expert, i am just some random dude on youtube, so take what i say with a grain of salt. Lastly, if you think you'd enjoy this video, please drop a like or dislike either way.

You're helping out the youtube algorithm, and i would greatly appreciate it and if you'd like to see more content like this, please consider subscribing to the channel and joining the family. With that being said, today, we are looking at ticker symbol, idex ideonomics incorporated, and i want to run through yesterday's one day, one minute chart to lay out some levels that we need to watch for in the trading hours today. So you have an idea of what to expect, so i am going to lay a resistance level right here. This is the new resistance for idex sitting at two dollars and forty cents, and the new support level on idex, as of yesterday, is going to be this price target of two dollars and eight cents.

Now we did only touch this with two candle wicks. So it's not a very strong support level. The stronger support level here is going to be right around here at two dollars and ten cents. You can see if we zoom in that we had one two three four five, six, seven eight now over about 15 20 different candlesticks that touched this and rejected the price, which means that this is a very solid support level.

It is a psychological barrier to traders that are currently in idex, for whatever reason or another emotions or logic aside. This is the level that i do not think we will drop below with that being said, if we do drop below this 210 support level, two dollars and eight cents is the secondary, and if we drop all this 208, it is likely that you will see a Pretty drastic sell-off to previous support levels for this stock, it's it's entirely possible that it would drop below two dollars. I do not think that's going to happen, but i do want to prepare you guys for what may happen as you're watching the stock throughout the day. I do think we're going to continue our bullish run, because if you look here on the five day five minute chart, we do have an upward trend.

We are setting stair steps, um higher higher highs and higher lows towards a new price valuation for the stock. So it is important to realize that we are on a current upwards trend. We are on a bullish run and if we pull up the volume moving average on this stock, you can see that we are spending a majority of the time above the vma, which means that the bulls are in control of this stock. You know yesterday we did have a little bit of bearish territory, but here in the pre-market we are looking very promising for another bullish run.

Now, if we break past this 240 resistance level, we are going to be looking at possible all all-time highs, as i was possible, new highs not all-time highs, working towards this all-time high sitting at 4.75. If we break through this 240 mark, the next level of resistance that i can foresee happening is going to be right about here, 3.29. Now, that is a very drastic difference. That's almost a dollar difference that is uh, that is about 50 upside, maybe a little bit more from where we're currently sitting in price valuation.

So if, if you want to take profits at that point, that is a solid opportunity if you're bought in anywhere in the 2 or 190 range, i would definitely consider taking profits at that price valuation. I bought in at two dollars and two cents on idex, and i am going to be looking for this 329 as a spot in which to set my uh trailing stop loss. So my plan is to set a trailing, stop loss for about five percent on idex. That way, if it does continue to run up, i will continue to increase my margin of profits and if it doesn't, i can secure my profits because i do not see us dropping below that two dollar range again, so i don't think there's a ton of risk, But there is a lot of upside, so that is what i have for levels that we need to watch for on idex today.

If you want to write those down, the resistance level that we are looking at is going to be about two dollars and 28 cents. Our support level is going to be about two dollars and 19 cents and our secondary our fallback support level is going to be about two dollars and eight cents. I'm going to correct this primary support level of about 212 secondary support level about 208. So i hope that was helpful for you guys if you enjoyed the video like, i said, please drop a like if you didn't dislike, either way, helping out the youtube algorithm and if you enjoyed the content and want to see more, please consider subscribing to the channel That is all that i have for you guys today and i will see you guys next time.


By Trey

One thought on “Idex will go parabolic if this happens // daily chart technical analysis”
  1. Avataaar/Circle Created with python_avatars Hector Garcia says:

    900 shares on idex. Going to buy 900 more and hold for the long haul.

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