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17/04/09
10:40
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Hey Kevi - Great work posting the updated chart.
Technically IRN is looking very bullish IMO.
We have filled the gap on the back of a retrace which had to happen as the stock had blown through the upper bollinger on its run to 41.
It has retraced to the 50% Fib level of its recent run....again very normal in an uptrend.
The way i see it with the 20 period MA and 50 MA about to cross and a potential w shaped bottom in place this is set to go higher.
There is strong support in the 29.5 to 31 cent level - If the market holds up i think 50 cents in the near term is achievable...Good luck to holders.
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