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AsimMirzaTrader

IAG - Is there a Buying Opportunity

Long
INSURANCE AUSTRALIA GROUP LIMITED (ASX:IAG)  
AsimMirzaTrader  
ASX:IAG   INSURANCE AUSTRALIA GROUP LIMITED
Trend Analysis Chart Patterns Wave Analysis ASX asx200 asxlong asx200long IAG Bearish Trend Line Fibonacci Retracement
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trendanalysis chartpattern waveanalysis asx asx200 asxlong asx200long iag bearishtrendline fibonacciretracement
IAG made its lows of $4.30 in the end of September, then it pumped up and made a High of $5.50 in the mid of November, breaking the bearish trendline, with very High Volume. This indicates that the trend may have changed, and since then it had been pulling back and formed Bullish Candles at the 78.6% Fib Retracement Level of $4.55. I think it has already made some base between $4.50 and $5.00, and aiming for a potential run towards the main Resistance Zone (Target) at $6.20 - $6.50, a potential gain of 18%.

Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
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