On February 21, I told you that my stock buddy, Judy, liked INVN. INVN has since consolidated and then moved to a new high on above average volume on Monday. Check out this daily chart.
Judy picks stocks by their “concept” and often discovers gems long before others do. I am keeping an eye of INVN, as is IBD.
Although I am long this stock, I do sell calls at overbought points, usually out of the money . That way I can stay in and smooth out the “bibbles” Typically I buy them back for small % of the premium I collected when I think stock has reached support and will resume uptrend. I did add to my position on the bounce off the 50sma besides buying back my calls.
Very well, Judy. Two months ago I bought INVN at $13 and more at $17.50, but almost sold it now at $20.00, but didn’t. Do you or Dr. Wish think INVN has formed a cup with a very high handle? Thanks.