Based off our history we have a nice wedge pattern being developed on the 2 week.
Our main Resistance is 3.88 - 4$
Break that and we should move north out of Resistance.
No telling how high it would want to go.
We do have have a potential higher low on the bottoms.
If we broke out I think we would see a nice size push.
Could be developing one massive cup...
Discussed that NYSE:IAG may have bottomed two weeks ago. And price action in last two days on very heavy volume supports the fact that it really did.
Now it is approaching resistance zone and neckline of inverse H&S. Might rest for a while, but when resistance is cleared, nothing should stop the rally later on.
Few weeks ago I mentioned that NYSE:IAG is in good area to make a bottom, and based on recent price action, good odds that bottom is already in (for bullish case to be valid).
Major potential inverted H&S in the making and should not really go below 2.70$, where I am also placing my stop
Miners have potential to be one of top players this year, and today I am looking at chart of NYSE:IAG . Stock reached perfect targets within wave 2 corrrection based on fibo levels, and price also created bullish engulfing candle yesterday . At the same time, price may also be forming bottom within right shoulder in inverted H&S. Looks promising for low risk entry buy
IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. The company was founded by William D. Pugliese, Mark I. Nathanson, and Larry E. Phillips on March 27, 1990 and is headquartered in Toronto, Canada.
P/E Ratio (with extraordinary items)
-15.93
SHORT INTEREST
7.95M 07/15/19
Analyst Recommendation Target...
