PennyFarmer.com ~ Planting the Seeds of Education and Growing My Pennies: Trade #7: IFON and the 200ema Bounce

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I've worn many hats during my entrepreneurial journey, including writing and creating whiteboard videos, marketing, investor relations (Blurbeo), owning and managing my own vapor pen brand (TouchESubject), servicing the real estate market and other clients as the CEO of Puget Sound Field Inspections, founded CLV Investments LLC, and currently holding a position with Byte Me LLC as a Digital Marketing Consultant.

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Tuesday, August 19, 2014

Trade #7: IFON and the 200ema Bounce

I've been watching this ticker for a while now because I noticed that the price shows a pattern of bouncing off of the 200ema and then topping roughly at a $0.50 gain. The pattern was very regular with 5 full bounces before I placed my order on the 6th dip to the 200ema. The fact that it has bounced off of the ema so well leads me to think that I can either catch a nice 10% gain or their may be a breakout on the horizon with a much larger upside.

Small position of 220 shares with a limit buy order of $2.05.