Fwiw, throwing out the following observations: First, from a number of TA indicators, IOC has likely made a bottom imo. Can't be 100% sure, but that's my conclusion here. Now, it needs to rebound some, then lick its wounds for several days or so. However, looking back last night thru the past three years reveals the following points to keep in mind.
In the past 3 years there have been nine fairly sharp corrections by IOC. Now, the REBOUNDS are my primary interest here. Of the nine rebounds in the last 3 year period, the average rebound was 14+ points, with the "least" rebound being 6 points in 8 weeks and 7 points in 4 weeks. The "stronges"t rebounds were 23 points in 16 weeks and 26 points in 6 weeks.
The average rebound was 14+ points
Most important also was that the average rebound consumed 6-7 weeks.
So, while it has looked pretty bad here and felt even worse, don't be surprised if the coming weeks surprise you to the upside. At least the rebound history of the past 3 years warms to be aware of IOC's rebound potential.....fwiw trans
August-Sept might not look that bad..
