is now in the consolidation phase of the Big W pattern. This phase generally creates a triangle pattern
, usually a symmetrical triangle, although a descending wedge
is also possible. The symmetrical triangle formed by INNT
is almost at its exit point. Once that happens, expect a sharp jump up, at minimum 20% today. Unfortunately, that jump up creates an even bigger symmetrical triangle, and I can't see which direction it will take without more information about the celiac disease treatment they have in the works. This might only be a setup for those that can intra-day trade, because if the bigger triangle breaks downwards the drop
will be sharp and all gains from the day will be lost.