Technical Tremors in Ion Geophysical
Ion Geophysical (IO) provides seismic technology solutions to the oil and gas industry worldwide. The stock broke below its 50-day moving average in April last year and fell over 60% before finding a bottom in October. It has since been making a series of lower highs and higher lows, but may now be preparing to break out of the long-term consolidation pattern.Ion Geophysical (IO) -- Weekly Source: StockCharts.com View Chart » View in New Window »
The weekly chart shows the triangular formation and the contraction of price range and compression of the 50- and 200-day moving averages. The Bollinger band width and average true range indicators (at the bottom of the chart) are at levels that suggest the potential for a volatile move....245 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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