I would argue the opposite...look at the weekly chart, not the daily - its all but confirmed the head & shoulders reversal.
It will be confirmed if it falls below $9.20. Price target would be around $6.20
More so, if you look at the full timeline of the chart, it's hit a double top at the most recent high - the original top was back in 2010. That makes it a very strong resistance point.
Personally, I would say if you are holding long I would be putting a stop loss on for sure.
My opinion only. This is based on my own research & analysis - do your own to be sure for yourself.
Reverse head and shoulders (bullish), page-7
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Last
$5.49 |
Change
-0.345(5.92%) |
Mkt cap ! $2.404B | |||
| Open | High | Low | Value | Volume |
| $5.69 | $5.69 | $5.46 | $9.027M | 1.632M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 6673 | $5.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.49 | 12605 | 14 |
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| Last trade - 13.39pm 11/11/2024 (20 minute delay) ? |
| ILU (ASX) Chart |