If we currently expecting this to be the C-wave of the Larger Time-Frame Flat pattern we could be expecting a Strong Bullish movement when price hits the Fibonacci support levels
How price moves on the uptrend will determine whether this current down-wave is a C-wave or an A-wave
Lots of potential here in the business fundamentals.
Volume is building
Once the uptrend channel is broken to the high side the next target is 0.065 after that it is 0.083
RSI has recaptured the uptrend
This came up on my stock screener (CCI below -100) and saw a post on hotcopper identifying a potential Wyckoff Spring (panic low).
hotcopper.com.au
More info here: tradingpsychologyedge.com
If this plays out correctly, it could be a very nice swing trade. First resistance level is $0.036
Not financial advice.
Quick look at ASX:IXR after a big end to last week.
What has happened?
After a huge run up between May 2019 and October 2019, ASX:IXR topped out at $0.015. During the ensuing months, ASX:IXR found support at the 0.5 fib resistance (Support 1) which held until COVID-19 when this level turned into resistance (Resistance 1).
IXR bottomed out at the 0.786...
$IXR.ASX it is setting up for move higher
Ionic Rare Earths Limited (IXR, formerly Oro Verde Limited) is an Australian based company focusing on investments in the mining and resource sector. Currently IXR is focusing on its flagship Makuutu Rare Earths Project in Uganda.
Fair Value Estimate 0.020c Current price 0.013c
