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Inovio Pharmaceuticals Inc (INO) “On a long-term technical basis, the stock (INO) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has broken down through an important fibonacci fan trendline at 19.94 suggesting the next level of support is 16.92. The long-term uptrend has now turned neutral.
The stock has support at 16.92 and 15.69. If the stock breaks down through support at 16.92 then it will probably continue lower to 15.69. The stock will meet resistance at 19.50 and 24.20. If the stock breaks up through resistance at 19.50 then it will probably continue higher to 24.20. The 200-day moving average is at 9.05. This will also act as support. If the stock closes below 15.69 a negative trend change is probable. The stock could fall to the 200-day moving average at 9.05. The stock is extremely oversold according to the Stochastic Indicator (19.75).”
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