Barries Trading Insights

Barries Trading Insights

Mar 25, 2024

Hey there, fellow traders! It’s Barrie Einarson from Trade Ideas, back with another installment of “What Makes This Trade Great.” Today, we’re diving into the exciting world of IDN.

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So, let’s break it down. IDN, folks. This one caught my eye with Friday’s action. Picture this: I’m looking at the daily chart, and there it is, the Friday Daily Candle, right in front of me.

Now, what’s the buzz about? Well, IDN decided to drop its earnings bombshell on Friday, and boy, did it catch everyone off guard! The analysts were left scratching their heads, and what happened next? Boom! Look at that surge in price. It was like a firecracker on the charts.

And guess what? Today, the story continued. Our trusty indicator, RA, gave us the heads up at 364. And what happened next? Well, before you could even bat an eyelid, IDN shot up to 427. Talk about a rocket ride!

Now, here’s the thing I’m keeping my eyes peeled for: can IDN break past that four mark later on? That’s the question on my mind. See, this right here is a textbook example of second-day continuation on earnings that blew expectations out of the water.

And let’s talk numbers for a sec. IDN’s float? A modest 16 million. But let me tell you, that didn’t stop it from putting on a show on Friday. And you know what? It’s showing no signs of slowing down today.

Alright, folks, that’s a wrap for today. Keep your eyes on the charts, stay sharp, and I’ll catch you on the flip side. Until then, happy trading, and may the markets be ever in your favor.