Watching INR closely after recent bullish fundamental news regarding Ford Binding Offtake Agreement.
I have charted key levels of support and resistance as well as added in long-term and short-term trends.
Direction 1: Recently validating short-term uptrend and testing current daily resistance zone IF momentum continues it could regain long-term uptrend and...
With all the small cap lithium explorers running lately (LKE, CXO, LTR), it seems like INR is being left behind. The news of the project being halted due to concerns by the authorities have been greatly overdone.
Ioneer is looking to produce lithium carbonate from its Rhyolite Ridge project in Nevada, North America. It has the advantage of being located in the...
Text me if you have any questions/comments for me.
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INR
- Previous analysis was done on 16 Sep (red arrow) -> suggested waiting for a successful rebound
- Since then, the stock created a LH and LL
- Stock rebounded off the mid-term support and successfully break out from the counter-trendline (blue dotted line) with above average volume
- Stock is currently...
Text me if you have any questions/comments for me.
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INR
- Previous analysis was done on 31 Aug -> suggested waiting for retracement and successful rebound before plotting entry
- Since then, the stock flew like a rocket
- Today, the rocket’s parachute didn’t deploy -> Stock dropped almost 19% with above average volume
- Today’s price action is nothing new...
INR
- First time doing a written analysis on INR
- History of good uptrends that tend to last 2-3 months
- Created new all-time high today
- Price is far from the short-term support –> best to wait for retracement and successful rebound
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest to wait for retracement and successful rebound before entering
INR is a healthy looking chart making higher highs and higher lows but it may face some resistance and lookss overbought. I would like to take a buy position if it retraces lower. My Buy Zone is between $0.340 - $0.360, which is also its trendline support. I will watch price action to get long in the zone. Lets see how it progresses.
Please note these are my own...
Ioneer has a Nevada US based Lithium and Boron project. A core mission of ioneer is to develop a sustainable U.S. based source of lithium and boric acid that can be efficiently produced and delivered to customers domestically and internationally. Lithium production at Rhyolite Ridge equates to supplying batteries for approximately 400,000 electric vehicles...
Interesting stock to watch here as it is reacting differently Aussie and South American lithium miners today in the asx.
Supply: Lots of bag holders from previous support and gap downs lining up to sell
Demand: Preference for vertical integration as car manufacturers wish to reduce supply chain risk? or just FOMO
Who knows.
Entry level: 0.12
Exit: 0.095
Whilst not visible on the chart the inverted H & S pattern has formed with support around the 78.6% fib retracement (of the move up that commenced in October 2016). This looks set for a move up. Keep an eye on the daily RSI which is at 67 though the weekly RSI is well under control.
