If charting is not your thing please look no further. As with the disconnect between IGR's publicised fundamentals & its SP, there may be further disconnect between known chart patterns & IGR's near term SP behaviour.
The first chart shows the following indicators: 2SD Bollinger Bands [dotty purple line], Slow Stochastic [50:30], a 300 period Elliott Wave & Volume.
In summary, the BBs show that IGR's price action has travelled well outside the 2SD Boll. Bands for 5 consecutive days. The Stochastic indicator shows IGR as way oversold - a buy signal has been generated by this indicator.
The Elliott Waves generated by ProfitSource software are bullish [those on both weekly & monthly charts are also bullish]. They project a Wave 5 rise in IGR's SP.
IMO also of interest is that we have just registered 2 consecutive inside days - the second on much higher volume, indicating a battle between bulls & bears! A sharp move maybe on the cards - a move above the white downsloping upper trendline would be very bullish.
The second chart below shows the current disconnect between the Price of Gold [POG] & IGR's SP -especially since Jan28.
Chart1: Daily OHLC for IGR
Chart2: Daily charts comparing IGR with POG
chartists only
-
- There are more pages in this discussion • 41 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)