Potential outside week and bullish potential for IGO

May 24

Entry conditions:
(i) higher share price for IGO above the level of the potential outside week noted on 22nd May (i.e.: above the level of $9.27).

Stop loss for the trade would be:
(i) below the low of the outside week on 19th May (i.e.: below $8.00), should the trade activate.

May 29

Trade active

UPDATE (week ending 29th May): Trade activated on Monday 25th May and Tuesday 26th May, with decent share price performance for the remainder of the trading week, bouncing off the short-term 8 day EMA in a positive manner.

Jun 6

Trade closed manually

UPDATE (week ending 5th June): Good price action was noted on Monday 1st June, however trading volume was absent even though the price action overextended from the short-term moving averages, suggesting caution and taking a small piece off the table, at the very least... this was confirmed by the end of the trading week, with the share price declining below both short-term moving averages of the 8 and 15 day EMA's. Charts are suggesting that it appears best to cover any remaining positions for a scratch trade, or at least raise protective stops to slightly beneath the yearly VWAP, which is currently sitting at $8.34 in order to minimise potential losses.