I would argue the opposite...look at the weekly chart, not the daily - its all but confirmed the head & shoulders reversal.
It will be confirmed if it falls below $9.20. Price target would be around $6.20
More so, if you look at the full timeline of the chart, it's hit a double top at the most recent high - the original top was back in 2010. That makes it a very strong resistance point.
Personally, I would say if you are holding long I would be putting a stop loss on for sure.
My opinion only. This is based on my own research & analysis - do your own to be sure for yourself.
Reverse head and shoulders (bullish), page-7
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Last
$5.75 |
Change
-0.220(3.69%) |
Mkt cap ! $2.462B | |||
| Open | High | Low | Value | Volume |
| $5.85 | $5.94 | $5.75 | $8.769M | 1.511M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4117 | $5.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.77 | 31967 | 2 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| ILU (ASX) Chart |