I first mentioned Innophos Holdings (IPHS) about 2 weeks ago back on twitter. (hopefully together) We rode it to plus $19 over 3 days or so. Since, the stock has come back down to the same levels I first noticed it at, and signs point to another favorable pop. An important reason why you should continue following a stock even after the initial play is over.
From the chart above, you can see the sideways trading and the breakout spot. A break above the blue line could lead to a jump to $19, putting stops at $16. If IPHS can manage to pass the 200 sma (red line), then that is just icing on the cake.
I am also looking at the relative strength index and full stochastic to bounce off 50 and 20 respectively.
This is meant to be a relatively quick play. So keep an eye out, to track this stock.
INO – Get a free trend analysis for Innophos Holdings