I would almost give a 100% guarantee that it continues next week. In fact it is one of my favorites. Works everytime, unless there is a terrorist attack or something of that nature.
Just like taking candy from a baby.
A note of caution, the monthly stochastics, which called every intermediary major top and bottom in INVN's chart pattern, is now approaching an area suggesting a possible near term top "may" be forming,...be careful......
The NASDQ and S&P500 continue to show topping action, coincidentally, their weekly stochastics are also heading down from their peak. This indicator has also been reliable in portending intermediary direction in the market direction. Back on April 12, I pointed out the bottoming of this indicator as a good entry point into INVN. In hindsight, that was the correct call. A good investor will recognize that it doesn't matter what "YOU" think about a stock, or what story is in the immediate future. What eventually determines PPS is how the market values the PPS. People lie, charts don't. The charts tell you what is happening "NOW", very objectively, what the mass and majority are doing. The same cycle repeats every single time, the same mass driven market psychology. You can't ignore the "psychology" because we people make up the market average. Greed and more greed fueling market upside, followed by reverse greed, fear, and preservation of capital, causing panic selling on the downside. Initially, all stocks get caught up in the general panic. Personally, I feel INVN has a captivating, bright future.....But it will be a matter of timing. I'm just pointing out a note of caution for any entry at this level, where the stochastics point to a topping area in both the Market Indexes and in INVN. One can be a long and hold, but I'd rather avoid the "stress" and re-enter at even lower levels. My philosophy is preservation of capital. Good investors don't just blindly watch their stocks, but also the general market conditions. And the fact is, a bull run does "NOT" last indefinitely, without correction. May not be today or tomorrow, but soon. Sure, I may be wrong, have been many times, I don't know everything, but, I'm buckling my seat belt just the same.........JMO
In my experience, most stock market moves last approximately 6-8 months before some correction occurs, they don't run uninterrupted without pause. We're now at the 7th month. Summer doldrums tend to take the "volume" steam out of the markets. Fed policy stimulus change and reaction to transitory change may also weigh on further market gains. As the market goes, so goes the majority of most stocks......Should the markets decline, I would be looking to see if INVN resists it's previous tendency to return to the low 9's. If it holds up in strength, that's confirmation that we may finally break out of the usual broad trading range......JMO