3 Stocks @ 50% Retracement.

Lets start with TLS which is still considered in a downtrend. From its GFC LOW to the Feb. 2015 high which has a range of $4.18. ( Feb. 2015 high of $6.73 – GFC Low of $2.55 )

4.18/2 = $2.09. Feb 2015 High of $6.73 – $ $2.09 = $4.64. Low that we saw most recently was $$4.52 with TLS and currently it is in the process of filling a GAP which may potentially be an exhaustion GAP. Expect resistance around $5.00 – $5.15  in the short term on any potential test.

TLS Daily chart below as at 15/03.

Disclosure : TLS Held.

tlsdaily16032017

ILU from its OCT 2016 Low to Jan 2017 high has retraced around 50%. Cluster of this and 200 Day SMA did provide a support at least temporarily.  Completed a HEAD & SHOULDERS TOP of 4 days earlier has now failed to materialise. Failed patterns, more often than not, may potentially result in some nice moves against them. Would this be the case with ILU ? Remains to be seen. It is important that the support at $6.50 holds.

ILU currently trading around $6.90 (16/03/2017).

Disclosure : ILU held.

Daily ILU chart below.

iludaily16032017

 

IGO again from its Jan 2016 Low to Nov 2016 high it has retraced around 50% of the move and appears to have found some support at current levels at least temporarily. $3.90 -$4.00 is a short term resistance on any potential retest which may be worth noting.

Disclosure : IGO Held.

Weekly IGO chart below. Also note DEAD CROSS with dual SMA. View here is short term.

igoweekly16052017

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