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I honestly never though we would be back here but I will be...

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niz

1,052 Posts.

126

20/02/23

20:29

Post #: 66357116
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Originally posted by Lurker99: ↑

Just had a quick peak at the charts again...

Hmmm...

Sort of wish I hadn't. We collapsed the 16.5/17c pivot point that was fairly critical in the accumulation theory. Next sweet spot on the chart is where we are now, at the 14/14.5c mark. It consistently looks like there is ok (ish) support at these lines, with the sell side not looking too stacked and then bang, it breaks on through.

This has been a consistent pattern for IHL for some time now, this long term downtrend has been marked by steady dumping through resistance walls.

Is there and end/reversal in sight? Hard to say. We have a timeline of announcements that is pretty clear, however its also clear to those on the other side of the ledger who want a chance to sell into what might be a little spike or to anticipate surges in volume.

As much as it's not fun to say, we seem to be relentlessly chipping our way down to the long ago gap at 10/11c, there aren't too many technical indicators at the moment saying we won't hit that.

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I honestly never though we would be back here but I will be topping up where I can

IHL Price at posting: 14.0¢ Sentiment: Hold Disclosure: Held
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