What is up, everybody welcome to trace trades, where we give a technical analysis on different stocks in the stock market, as well as a buy, hold or sell opinion 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. With that being said, today we are going to be looking at ticker symbol.

Idex ideonomics incorporated, but before we get started, i had a question that was asked for me on youtube in the comments section, and i thought that other people could benefit from this question. As my idex videos seem to be the ones that gain the most traction. So hopefully this this uh can help you guys out too. If you're in a similar situation, ddk said, i made a mistake by getting 150 shares at 305..

Do you think i should hold this bro, or is this price too high to even break even now? I wanted to bring that up, because that is something that you're going to see happen when you're a day or swing trader, it's impossible not to lose some of the plays that you get yourself into right. So there was once a time when i had. I had personally bought into idx when i got in on the hype. So if we look back here when it got up to 475, i didn't buy it at 475.

That's not where i'm going with this, but i did buy in for um. You know about 357 and once we saw this initial shoot up to 475, i was hoping to retest that level of resistance and we didn't get that opportunity. So you know i bought it at about this point and i think i sold at about this point and you know looking back was that the right decision um, i think at the moment it was. I wanted to cut my losses and move on to something else.

You know you can always move into a different play and make your money back. However, there is another opportunity here for ddk and that is to average down now averaging down means if you purchased. Your shares at a price of 305, like ddk, did that, while the stock valuation is sitting at two dollars and three cents like it is right now, you would want to buy near the same or more of the shares that you currently own. So ddk currently owns 150 shares at 305.

So if he purchased 150 shares at 203, he would average his cost out somewhere in the middle of that which would probably come out to about 2.55, which is a much easier price target to hit and get your money back and then possibly make some returns. Because, to be frank, it might not be a while until we test these three dollar price valuations again, because we've got some other resistance levels to hit before that. So i hope that answers your question ddk with that being said, let's get into the daily charts now today the market is a little bit of a bloodbath. It is not doing well and surprisingly, contrary to what i would have believed idex is holding up very well.

So if we go back at you know, pre-pre-market open four o'clock, we actually did see 219 be tested. You know, which is a prior resistance level, that i'll show you in a little bit. 219 was a level that was tested and rejected, and we've come back down since, however, this stock is definitely testing another green day here and you can see the volume moving average the vma right now, we're currently sitting above that. Just the fact that this stock is not red at all today, they're actually they're, actually up from 1.98 to begin with, which is incredible, um, that's something that you should really pay attention to.

I think that uh, that holds a lot of promise. So if we look at a two day chart here, you can see 219 was tested, then maybe it's on the five day 10 day here we are and it was tested here both times were in the after hours or pre-market hours, and we've said it on this Channel before, if you know what i'm about to say, drop it in the comments down below, but the market repeats itself, you need to pay attention to patterns. So this is a pattern that could potentially make you some returns or if it follows the pattern of last time, it could potentially tank so make sure you're really watching what's happening here. This is an opportunity, it doesn't mean you're guaranteed to make money, but it does mean that we see a pattern in the market.

So that's something that i think you should pay attention to and let's get into the buy holder cell opinion here. Do i think you should buy, hold or sell on this? Well, i do think we have a pretty solid resistance or not, as i was a really solid support level here at a dollar 66, and before that, an even stronger support level sitting right about here we tested this out. There was a pretty strong price rejection immediately. Shooting back upwards to this dollar 90 range and that's exactly what you're looking for in a resistance is an immediate rejection of of lower valuations back up to a higher cost.

So i think uh. If you really wanted to wait to get into this stock, it is possible that it will come back down to 1.79 um. Nothing is guaranteed in the market, though you know, i can't predict the future. If i could we'd all be rich i'd be taking care of all of you guys, but unfortunately i cannot but pay attention to that.

So if it comes back down to 1.79, that is a very strong buying opportunity very strong, buying opportunity. I personally feel very good about getting in in this dollar ninety four to two dollars and five cent price valuation range. So, if you're looking for an opportunity to get into this stock again, i'm not a financial advisor nor expert. Do your own due diligence, take what i say with a grain of salt that does seem like a pretty solid opportunity to get in so the last thing i want to talk about is what happens if we break through this level of resistance? Well, if we break through this level of resistance, you have a lot of opportunity for this stock to shoot off, so we break through 220..

The next level of resistance is going to be somewhere here around 230.. This has been touched four times price rejection four times and if we can break through that you're looking at a lot of upside a lot of upside you're gon na be looking at that three dollar plus range like. I think this is sitting at about three dollars and thirty cents and if you bought in for two bucks that you're looking at nearly a 75 return on income, do i think that's all going to happen today. Definitely not it's possible, but i wouldn't bank on that happening today.

Is that something that could happen in a week or two weeks, almost certainly anything is possible in the stock market and uh, let's hope for the best yeah. That's all i got for this video today. Thank you for coming the channel. If you enjoyed the video, please, please drop a like.

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