AsimMirzaTrader

IAG - Is there a Buying Opportunity

Long
ASX:IAG   INSURANCE AUSTRALIA GROUP LIMITED
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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