Weekly chart of ILU.ASX showing further three support levels as well as resistance level to watch for on any potential test/retest. A stock with reasonable fundamentals that deserves to be a watchlist item IMHO.Bearish PnF target is shown at the second chart which stands at $5.45.With this level in mind, ILU is now testing the Fib. Golden Mean retracement support of $7.70(slightly below that level atm) within an established down trending channel.For now, I would keep an eye for a potential violation of the down trend channel resistance line over the weeks ahead with all support levels shown in mind. If and when on hand (violation of the resistance line) , that would tell us/suggest a HALT/STOP to the current down trend….
OBV as well as RSI may also be worth keeping an eye on.
Safety first and foremost in this current environment !
Disclosure : I have no open position with ILU.ASX
FREE charts are courtesy of tradingview.com
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