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Fan Yang

Intelligent Systems Corp. (INS) Awaiting Breakout From $25-$30 Consolidation Range

Fintech name Intelligent Systems Corp. $INS has been on a rollercoster ride in the past couple of months. It has settled down in a consolidation range and I think there is potential upside.

INS Daily Chart

(click to enlarge)

- On the daily chart, we can see that the prevailing bullish trend accelerated in 2019. 
- The latest surge in early May however was completed pared by June.
- Still the overall trend is still probably bullish. Thus we can say that INS is now bullish-neutral as it consolidates between $25 and $30. 
- In other words, I think there is more likelihood of a bullish breakout above $30.
- Even if the market is not bullish but instead still "neutral", there could be upside to $37.50 instead of the $47.50-$48 highs. 
- If price continues lower, I think there would be strong support around $20. 

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