Wednesday, November 8, 2017

Innovaderma – SELL

 Innovaderma stock (LSE:IDP) is in a downtrend, which has been in place since September 2017. Further downward movement is expected.

The market has gone below the EMA 21, while the Williams’ % Range period 20 is around the oversold region.

Price has gone seriously downwards and it is currently below the resistance level at 280.
While there could be attempted rallies along the way to the south, they are expected to be transitory as price would go further downwards.

The signal on Innovaderma is a SELL one and price may reach the support levels at 200, 175 and 150 within the next several months.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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