Ivanhoe Mines Ltd T.IVN

Shareprice

[Hideaway]

Copper and most copper stocks up a bit today. INV currently down 18 cents.We seem to be out of sync with Freeport and hub day the last few trading days even with positive news.Are day traders the problem?
Comments?

[mudguy]

FWIW I have some of my shares being loaned by shorts.  First time in memory.

[mudguy]

I've been assuming IVN is going to fill the gap on the daily chart around $17.25.  Makes sense before another move up. There is another gap in Jan 2024 around $13.75, FWIW.  If it gets bad and looks to be going to the 200 dma, I could see that as a serious target.  Hope not.

[mudguy]

$17.29, might be close enough for a gap fill

[Hideaway]

17.25 gap filled.Mud, if technicals are right we should start to climb back as you suggested.That's assuming the next gap at 13+ doesn't materialize.Hope this is end of rather bad few trading sessions for Ivn.

[mudguy]

Copper retrace is understandable, it went a long ways in a short time.  Filling that gap and now RSI around 37 gives good risk profile.  I added at these levels but hopefully macro does not take it to 200 dma and that gap.

[mudguy]

March breakout at $15 could be another target with the rising 200 dma.  A month or so would make that about right.  Not predicting, but this stuff happens more often than not and weakness gives an opportunity. Shorts use TA to determine entry and exit points. Obviously, company prospects are superb and why I've held this on and off since 2013, but short term the chart is not

[Cobalt]

I prefer using the Fibonacci tool for that analysis. Starting at the 15 breakout, we are currently positioned right at the 0.618 retracement. If that level were to break, the 0.786 is precisely at $16.25, which also serves as support.

[Cobalt]

Can also run a fib on the copper break-out and its not looking good 

[spookie77]

it's looking good if you believe in IVN and the process of it growing, which I do. Getting close to  buying more because I saw the future when it hit over $21. Follow Buffet's ( not Jimmy) advice on what to do when everyone else is panicking.

[Cobalt]

The question right now is the economy slowing? Algo's will not sit in copper names if so.