Before the market I was looking at ILU for a short, reason is that it hit 13 ema confirming a downward trend. with the weekly chart confirming a bearish move as well. i enter this trade on the 5 min and might hold it for couple of days, but it might bounce back tomorrow. keep an eye on it.
If it closes below, it goes to the last protection fund at 8.95 approximately.
If closing below 8.95 drops further, until approximately to 8.82 ...
At the moment it is indicating closing above the first bottom at 9.06.
In the present volatile market, ILU shows amazing volume of buyers interested in this stocks , after decent consolidation period , it broke north from $9.50 based and now formed a pendant flag at $11.45, never mind the selling pressure, there is ample buyers out there willing to push it up to $13.00 , just beware of its volatility and average true range before...
thia chart is one of the best in my watching ...
it has corrected so much and in m y idea its trend will be change after starting toward up ...
a major pivot is broken in daily time and my suggestion is entry to buy position after bullish candle
Iluka Resources Limited is an Australia-based mineral sands company. The Company is engaged in mineral sands exploration, project development, operations and marketing. The Company segments include Australia (AUS), Sierra Rutile (SRL), United States (US) and Mining Area C (MAC). The AUS segment consists of the mineral sands mining and processing operations in Victoria, Western Australia and South Australia. The material is mined from various deposits in Western Australia (Perth Basin), together with the Jacinth-Ambrosia deposit in South Australia (Eucla Basin) and various deposits in Victoria (Murray Basin). The SRL segment consists of the integrated mineral sands mining and processing operations in Sierra Leone. The US segment consists of mineral sands processing operations in Virginia and rehabilitation obligations in both Virginia and Florida. The MAC segment consists of an iron ore royalty interest over certain mining tenements in Australia operated by BHP Billiton Iron Ore.
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ILU
