IVC needs to break confidently above $12 – something which would give a target of $14.60. Since the March low price has broken above a downtrend and made a new uptrend, however, a valid trendline can’t be drawn until a new trough is confirmed. If price rises above $12 without moving significantly below last weeks low in the process it will have confirmed the trendline and made a higher weekly trough and peak – all of which are buy signals. Be warned - $12 seems to be a very strong level of resistance.

IVC 8Jan21

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

Sorry, this website uses features that your browser doesn’t support. Upgrade to a newer version of Firefox, Chrome, Safari, or Edge and you’ll be all set.