IAA, Inc. ( $IAA ) – stock is trading under 50 dollars and offering a possible buying price between $48.09 -$50.49. Let’s look at the stocks technical actions using a daily chart.
2. The stock moved sideways for few days after the IPO.
3. The stock broke out right away.
4. The stock made strong run right after the breakout.
5. Then the stock moved sideways and appears to be consolidating the gains.
6. The consolidation base is kind of loose though in the daily chart, but appears to tight in the weekly chart.
7. The stock is offering possible buying price between $48.09 – $50.49, with a stop loss at $44.24.
