First of all, let me say that in the long run, I am ultra-bullish on IE. I know the copper industry in Arizona, and their Santa Cruz Project outside of Casa Grande will be a huge winner. I see the stock a couple of years from now trading between $40 and $50.
In the short-term, however, it's getting its teeth kicked in. In terms of pure trend-line analysis, it looks like we're going to get a close below the 21 November pivot low. If so, I see it headed down the $8.55-ish level established by last year's rounded bottom.
I do not use Ichimoku as a mere indicator. I use it as a holistic trading system. IE is in the midst of a clearly established Sanyaku Gyakuten. Ideally, you'd like a retrace to the Tenkan-sen (red line) or the Kijun-sen (blue line) for an entry, but IE probably isn't going to touch these again anytime soon, and a Kijun snapback is unlikely considering the current impetus. Consequently, you have to base an entry on trend-line analysis.
We are also just about to come upon a Kumo twist. Note that the green cloud is about to pinch and turn red. These points tend to accelerate current trends. https://www.tradingview.com/x/nk2zLhNg/
In the short-term, however, it's getting its teeth kicked in. In terms of pure trend-line analysis, it looks like we're going to get a close below the 21 November pivot low. If so, I see it headed down the $8.55-ish level established by last year's rounded bottom.
I do not use Ichimoku as a mere indicator. I use it as a holistic trading system. IE is in the midst of a clearly established Sanyaku Gyakuten. Ideally, you'd like a retrace to the Tenkan-sen (red line) or the Kijun-sen (blue line) for an entry, but IE probably isn't going to touch these again anytime soon, and a Kijun snapback is unlikely considering the current impetus. Consequently, you have to base an entry on trend-line analysis.
We are also just about to come upon a Kumo twist. Note that the green cloud is about to pinch and turn red. These points tend to accelerate current trends. https://www.tradingview.com/x/nk2zLhNg/
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Based on the current N wave in progress (Point A is 27 Feb), the following price targets are in effect: V $10.55, N $9.20, E $7.41. Note that the November pivot low and the NT level are pretty much the same, hence the momentary consolidation. However, Kihon-suchi 17 is very near the Kumo twist, and this bodes well for re-acceleration of the current downtrend. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.