IKNX bottomed and is rising.
Hello,
What is IKNX?
IKONICS Corporation develops, manufactures, and sells photosensitive liquids and films for screen printing, awards and recognition, and dye sublimation markets worldwide. It operates through four segments: Chromaline, IKONICS Imaging, Digital Texturing, and Advanced Material Solutions. The company sells screen printing films, emulsions, and inkjet receptive films, photo resistant films, art supplies, glass, and related abrasive etching equipment to end users and distributors. It also provides sound deadening and weight reduction technology to the aerospace and electronics industries; products and services for etched composites, ceramics, glass, and silicon wafers; and digital texturing technology for putting patterns and textures into steel molds for the plastic injection molding and prototyping. IKONICS Corporation markets and sells its products directly, as well as through domestic and international distributors, magazine advertising, trade shows, and the internet. The company was formerly known as The Chromaline Corporation and changed its name to IKONICS Corporation in December 2002. IKONICS Corporation was founded in 1952 and is based in Duluth, Minnesota.
News
IKONICS Corporation's (NASDAQ: IKNX ) shares rose 4.6% after the company said it would increase utilization of its composite machining capabilities for aerospace industry.
My Thoughts For You
I know this is a stretch but is common after a 5th wave completion seeing a leading diagonal. After the ABC correction of the 5th wave, we see that the price has bounced making an ABC correction which is a telltale for waves of a 3,3,3,3,3 pattern (ABC's X 5) therefore a leading diagonal.
I could be dead wrong about this but do see the price rising and we may just get a regular 5 wave impulse/correction. Either way, I see price rising which is in confluence with the RSI and the recent bounce we have seen.
If you're not sure how to get into a trade or when to take profits then check out this tutorial I have created in the comments section under "My Trade Advice For You"
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
What is IKNX?
IKONICS Corporation develops, manufactures, and sells photosensitive liquids and films for screen printing, awards and recognition, and dye sublimation markets worldwide. It operates through four segments: Chromaline, IKONICS Imaging, Digital Texturing, and Advanced Material Solutions. The company sells screen printing films, emulsions, and inkjet receptive films, photo resistant films, art supplies, glass, and related abrasive etching equipment to end users and distributors. It also provides sound deadening and weight reduction technology to the aerospace and electronics industries; products and services for etched composites, ceramics, glass, and silicon wafers; and digital texturing technology for putting patterns and textures into steel molds for the plastic injection molding and prototyping. IKONICS Corporation markets and sells its products directly, as well as through domestic and international distributors, magazine advertising, trade shows, and the internet. The company was formerly known as The Chromaline Corporation and changed its name to IKONICS Corporation in December 2002. IKONICS Corporation was founded in 1952 and is based in Duluth, Minnesota.
News
IKONICS Corporation's (NASDAQ: IKNX ) shares rose 4.6% after the company said it would increase utilization of its composite machining capabilities for aerospace industry.
My Thoughts For You
I know this is a stretch but is common after a 5th wave completion seeing a leading diagonal. After the ABC correction of the 5th wave, we see that the price has bounced making an ABC correction which is a telltale for waves of a 3,3,3,3,3 pattern (ABC's X 5) therefore a leading diagonal.
I could be dead wrong about this but do see the price rising and we may just get a regular 5 wave impulse/correction. Either way, I see price rising which is in confluence with the RSI and the recent bounce we have seen.
If you're not sure how to get into a trade or when to take profits then check out this tutorial I have created in the comments section under "My Trade Advice For You"
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
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