ITP Should I Buy

ITP is not a good buy right now. The tape is still bearish (negative and expanding MACD), there are no Intellectia buy signals to justify an impatient entry, and the latest quarter shows worsening losses despite slightly higher revenue. Options positioning is extremely call-skewed, but that reads more like speculative appetite than confirmation of a durable trend reversal. I would avoid/new-buy here and treat it as a sell/skip until price reclaims key resistance levels and momentum turns.

Price/Trend: ITP closed at 0.2158 (-2.04%), sitting right on key support S1=0.215 with the next downside level at S2=0.209; pivot resistance is 0.224 and higher resistance levels are 0.233/0.238. Momentum: MACD histogram is negative (-0.000973) and negatively expanding, which signals bearish momentum is strengthening rather than stabilizing. RSI: RSI(6)=22.28 (effectively oversold), which can allow for a short bounce, but oversold alone is not a reliable buy signal when MACD keeps deteriorating. Moving averages: Converging MAs suggest compression, but without a bullish cross/turn this is not a confirmed reversal. Pattern-based bias: Similar candlestick-pattern stats imply only modest expected upside (+0.31% next day, +1.37% next week, +2% next month), not a strong edge for an impatient entry. Net: Technical setup favors “wait for confirmation” (reclaim >0.224 pivot and stabilize) rather than buying at support while momentum is still worsening.