IGO
- First time doing a written analysis on IGO
- Has history of multiple uptrends but also multiple downtrends
- Historically, the stock has traded in a tight range that is bounded by strong resistances and supports
- Created new all-time high a month ago when it briefly tested the 10.00 psychological resistance
- Stock recently formed a Lower High (LH) and Higher Low (HL)
- A break of either the counter-trendline resistance or the trendline support might lead to a strong push in either direction
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline
- First time doing a written analysis on IGO
- Has history of multiple uptrends but also multiple downtrends
- Historically, the stock has traded in a tight range that is bounded by strong resistances and supports
- Created new all-time high a month ago when it briefly tested the 10.00 psychological resistance
- Stock recently formed a Lower High (LH) and Higher Low (HL)
- A break of either the counter-trendline resistance or the trendline support might lead to a strong push in either direction
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful breakout of counter-trendline