IAG

[Pascal]

Fishing for bottoms can be interesting, especially when the sector is in an oversold bounce.
For example, IAG is extremely oversold (for good reasons as it is running high production costs).
However, the Supply indicator shows that we are in a supply below 10% (not many shareholders want to sell) and the EV pattern shows accumulation.

Stops are key to success in this type of trade and many bounces fail, because they are mostly shorts covering bounces. hence, I use to take profits after a 10% to 20% gain.



Pascal