IOC Follow Up

The last update for IOC this week, "IOC Possible Trade"

From the last update:

""Let the trade come to you", IOC gained 7+% today on no news, in fact the only thing that looks like it may be responsible for the move is a technical breakout, but there's not enough 3C support to rule out a head fake move, in fact it looks pretty likely."


I am going to look at adding IOC as a core short position as I do believe it has likely hit an upside extreme, this would be an equity short, no leverage (no options). 


IOC Today:

 IOC likely bull trap mentioned earlier in the week.

 The move above both intraday highs and closing highs, check the volume on the breakout. The 16th is when the post was published to keep an eye out for this kind of move, "Let the trade come to you".

 1 min is in line with price

 2 min leading negative on the breakout move.

 5 min leading negative in to the breakout.

 15 min leading negative

 30 min with a strong leading negative divergence


 60 min with a large relative negative and a leading negative starting.

The 4 hour chart showing this as a likely head fake move from the start.


And the daily...

Confirming the 4 hour chart, this is why I'm willing to look at this as a core short position here.