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AleksandrTeplitskiy

IBIO consolidation and short-long term swing opportunity

Long
iBio, Inc. (AMEX:IBIO)  
AleksandrTeplitskiy  
AMEX:IBIO   iBio, Inc.
Chart Patterns Cup And Handle Double Top or Bottom Double Bottom retracement IBIO cupwithahandle LONG
4
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chartpattern cupandhandle doubletoporbottom doublebottom retracement ibio cupwithahandle long
IBIO is showing some consolidation. Recently stock is up a a decent volume.
looking at a longer time frame chart : double bottom patter - showing strong support line, defined risk level.
cup with hand formation is a very statistically strong consolidation pattern.
for the target price i would use 26.8% Fabonacci retracement level and 38.2% retracement level. IBIO
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