Internap Stock  I was doing my daily scan of investments, which involves looking for compelling investments with constructive

Internap Stock Is in Perfect Alignment to Stage an Advance

INAP Stock: Constructive Price Action

Internap Stock  I was doing my daily scan of investments, which involves looking for compelling investments with constructive

FOREX INVESTORS BUZZ  Internap Stock  I was doing my daily scan of investments, which involves looking for compelling investments with constructive stock charts, and I was led straight to Internap Corp (NASDAQ:INAP) stock, and I am quite compelled to say the least.

This small-cap company sports a $327.0-million market cap and operates as a high performance internet infrastructure provider. It has a footprint in the growing cloud computing space, and it offers a number of optimization solutions. The company is trading at 1x sales, which is very attractive, but it is the company’s stock chart that has really piqued my interest. The price action on the Internap stock chart is simple, easy to discern, and is suggesting that INAP stock is now staging an advance, so higher stock prices can now be expected.

The following Internap stock chart illustrates the constructive price action that has piqued my interest in INAP stock.



Internap Stock

 

INAP stock chart

 

This INAP stock chart has been modified in order to highlight the constructive price action.

Constructive price action consists of an alternating two-wave structure. This two-wave structure contains impulse waves, which are highlighted in green on the stock chart above, and consolidation waves, which are highlighted in purple on the stock chart above

In late June, INAP stock exited the consolidation wave in an upward direction, suggesting that an impulse wave was in development. The Internap stock price proceeded to forge a new 52-week high, which reinforced the notion that an impulsive advance was in development.

Aside from suggesting that the investment is in a bullish advance, this wave structure can be used to project a potential price objective for the current impulse wave that is in development. A potential price objective can be created based on the assumption that impulse waves that are separated by a consolidation wave have an above-average tendency to mirror each other in terms of their length. In this case, the preceding impulse wave was $2.35 in length, and if I apply the metric to the current impulse wave that is in development, it creates a potential price objective of $5.35.

Like up on FACEBOOK


logo

Market quotes are powered by
TradingView.com



Tech Stocks ( GOOG)   (MSFT ) ( AAPL ) (BBRY ) ( gopro )  ( WDC )



A 'perfect storm' correction is coming, and nothing can stop it

A ‘perfect storm’ correction is coming, and nothing can stop it

A ‘perfect storm’ correction is coming, and nothing can stop it

  •  ‘perfect storm’ correction A sharp stock market pullback is imminent, according to David Rosenberg, chief economist and strategist at Gluskin Sheff.
  • On Friday, stocks were hammered by fears the Federal Reserve might hike rates sooner than expected, sending the S&P 500 index and the Dow Jones industrial average into a tailspin. According to Rosenberg, there’s more trouble ahead.
  • “You have a perfect storm here if you get something like a Fed rate hike into the next several months,” Rosenberg said Thursday on CNBC’s “Futures Now. “The problem is that the market is not priced for it. I wouldn’t be surprised that we see some kind of repeat

 ‘perfect storm’ correction Investor complacency and a sluggish U.S. economy.

A 'perfect storm' correction is coming, and nothing can stop it

‘perfect storm’ correction “We entered into the third quarter with momentum and a lot of hope, and now we’re exiting the third quarter,” he said. “And, let’s face it: The last five or six [economic] numbers have been really soft,” he contended.

“The problem now, looking at where the market is priced, you’ve got cycle high multiples, you’ve got a lot of hedge funds in the futures options market that have been chasing performance here up to the price highs, and it doesn’t take much in the way of any sort of near-term adverse news to cause the market to correct.”

On average, September, which is historically the worst-performing month for stocks, only sees positive returns about half the time. In the fourth quarter, the S&P 500 has fallen more than 10 percent just once in the past 20 years.

But, there’s also a market wild card to watch this season: Uncertainty revolving around the presidential election.

images

screenarticleInstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free oie_Rp2d7HVSccxfservices for efficient trading.