IFRX Trade Good 18% Gain Price/Volume Action + Bull/Bear Strength

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NASDAQ index was in the RED when A.I. model has predicted $InflaRx N.V.(IFRX)$ as a BUY signal with a pretty good score. I told myself to monitor the market for the 1st hour of trading first.

Around 18% gain for IFRX.

IFRX Price and Volume Movement

I was monitoring the price movement of IFRX, it was having a more than 20% gain the previous trading day, so there are chances that there might be a gap down happening also.

So I decided to monitor the price movement and volume from 9.30 to 10.30, and it did hit high at $7.25. But eventually went down, as investors from previous trading day took profit, and hence, brought the price down.

I did not manage to enter at the low as I decide to enter at $5.50 close to the VWAP. Decided to take a $1 dollar profit which is around 18% gain.

Trading View Bull and Bear Power Chart

I decide to confirm what I saw from the price and volume movement, in order to determine if the stock is still having a Bull strength.

I use the Trading View Bull and Bear Power indicator to see how the strength have build up, I decide to enter when there is a slight dip in the Bull strength.

As I have noticed for past trade, the Bull strength above 0.15 though a little dip would pick up later.

So I enter at $5.50 at around 10.30pm. Exit around 1.30am with a dollar gain.

But from the trend I observe, it might not be a good time to buy today (06 April 2023).

Appreciate if you could share your thoughts in the comment section on your view whether you also monitor price volume movement and use bull/bear strength to trade?

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Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.