IPL 0.33% $2.99 incitec pivot limited

keeps on dumping please!, page-18

  1. 10,633 Posts.
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    I am gunna try my best coz it has me stuffed

    Firstly the point and figure chart is good to find support levels


    3.72 seems like good support and if this fails its possible to fall 8 % to 3.40

    Above there is a minor resistance at 3.9 ish and if broken then upside of just shy of 4.40 with + 16% so a tight stop entry here gives pretty good risk reward I suppose.

    the next post is the weekly big picture also showing that it seems the SP want sope back into the pitch fork

    Possible target is 4.30 or maybe a bit more base on this.

    The last is the daily and really confusing multiple support and resistance showing an upside in the 4.30 to 4.40 range as possible in the short term but from a swing trader point of view there are no higher lows nor higher highs so at this point its in a primary downtrend !

    I would wait for 3.80 to be broken and then a test to the downside confirming a higher swing low before I would re-enter.


    I hope this makes sense as its real messy
 
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