Off the back of the head and shoulders pattern, we can assume a price target of between 150-250% of the range of the H&S pattern. The range being the vertical distance between the head and the neckline.
Based on that, we could expect a drop to between 7.40 and 5.60. Mid point is around $6.20.
This is purely based on technical analysis, not fundamentals.
The other thing working against ILU right now (again, purely on technical) is the fact that when it hit the price at $10.78 back in Sept, it also made a double top vs July 2011 - its all time high. There's a BIG time gap between highs, which makes it a very strong resistance point.
This is all based on my own analysis & opinion - as always, DYOR
ILU Price at posting:
$8.40 Sentiment: None Disclosure: Not Held
