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Iluka gapped up today on good volume after some recent direct buying in March at a higher level around $7.40. This was a good 7% bounce from lows around $7. Mineral sands continues to play a big part in construction and infrastructure building, and no doubt producers will continue to be in demand in 2021.
Business profile: Iluka Resources Limited engages in the exploration, project development, mining, processing, marketing, and rehabilitation of mineral sands. The company operates through Jacinth-Ambrosia/Mid West, Cataby/South West, Sierra Rutile, Mining Area C, and United States/Murray Basin segments. It produces zircon; titanium dioxide products of rutile and...
The intraday action shows a false break lower ( big tail ) and new low didn't last very long; Double signal buy for few days hold or more....
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.
We bounced off the 61.8 retrace and still look bullish Profit targets $9.55,$10.10, Yellow levels=Key resistance.
ILU the titanium huntress, she stay on the bottom, will start the cycle for another high attempt.
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...
UPSIDE OR DOWNSIDE BREAKOUT CAN BE TRADED FROM H&S PATTERNS
uptrend ....enter to buy after bullish candle above tl on daily time frame
uptrend ... breakout of s/r zone and pullback to it... its stop is small (below the colored s/r zone )... triggered ... buy
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
tomorrow is important for this stock .... buy after breakout end of the day or on lower time frame