ILU.ASX weekly & PnF chart Outlook.

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

iluweekly11122018

ilupnf11122018

Disclaimer

All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.

Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.

Links to other websites are inserted for convenience only and do not constitute endorsement of any of the material on those sites, or any associated organisation, product or service. Kazim Agaoglu is not responsible for the content of any site owned by a third party that may be linked to this website and such links are provided as a courtesy with no judgment or warranty being made concerning the suitability, accuracy or otherwise of the content on any such site.

Kazim Agaoglu disclaims any undertakings, warranties or guarantees, express or implied and shall not be liable for any loss or damage whatsoever arising out of in connection with the use of or reliance upon any of the information on this website. The user accepts sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

 

 

 

 

 

 

Comments are closed.