Innovative Industrial Properties: Low Ahead

The stock of Innovative Industrial Properties managed to stabilize somewhat at the upper edge of our green Target Zone (coordinates: $53.48 – $16.80) but should soon initiate the next downward impulse. In the short term, we expect a final corrective movement deeper into our green Target Zone to establish the low of the overarching wave [II] in green. Once the wave [II] low is settled, the impulsive wave [1] in green should take over and carry the stock beyond the resistance at $137.90.