Here is another case study of the Power of Trend-Line technical trading. If you start from the far left and work you way to the right, you will see where I have connected milestone price points and have created Trend-Line connecting points both on a larger macro time frame (in Yellow) and as well as a micro time frame (in purple).
A nicely held bounce nearing the whole dollar mark of 6$ for a LONG position consideration with a 20 cent stop buffer. Lets see how this one pans out on the bullish side as addition recent news came out as of this mornings posting pre-market. Follow the Trend-lines to consider partialing out.
A wonderful case study working hard for the Longs. As we approach the upper ascending Trend-Line we will likely see some selling action as traders will be taking profits. Around the $8.50 mark is were it will achieve this (currently). Lets see how the coming days turn out. Copper is up and is on fire (Futures). This will only add strength to IVN.TO longer term.
Some options for swing traders... Consider taking some profit as we hopefully near $8.50. Let it prove itself to hold 8.50 in the days ahead, then consider adding. HOWEVER this may be a perfect case scenario to consider going short if we see confirmation that it does not want to achieve a higher price over the upper ascending Trend-Line. Keep an eye on the price of Copper as it will influence the strength.
Some options for swing traders... Consider taking some profit as we hopefully near $8.50. Let it prove itself to hold 8.50 in the days ahead, then consider adding. HOWEVER this may be a perfect case scenario to consider going short if we see confirmation that it does not want to achieve a higher price over the upper ascending Trend-Line. Keep an eye on the price of Copper as it will influence the strength.