IAR Systems is among the stocks which hasnt recovered after the COVID19 sell off in Feb/march 2020.
There seems to be a strong support for the short-term upwards trend to break the long-term downward trend.
RSI is medium, but will be rising due to the increasing positive volume.
First resistance to overcome is 151 (target 1), second resistance is 170 (target 2).
First support 135 (stoploss should be 128-135, as it is stock with lower market cap).
Yet, be aware, that 50 days avg < 200 days avg, whereby the stock is still bearish in traditional terms.
Long position entered at 142.1 SEK
There seems to be a strong support for the short-term upwards trend to break the long-term downward trend.
RSI is medium, but will be rising due to the increasing positive volume.
First resistance to overcome is 151 (target 1), second resistance is 170 (target 2).
First support 135 (stoploss should be 128-135, as it is stock with lower market cap).
Yet, be aware, that 50 days avg < 200 days avg, whereby the stock is still bearish in traditional terms.
Long position entered at 142.1 SEK