ILU is a volatile stock which seems to have finally broken out of a long-term downtrend it has been in since 2018. Since last October it has been trading in a rising price channel and it is currently near the top boundary of that channel. The chart suggests a top of around $12 and two charting theories suggest targets of $12.14 - $12.46. The break up from the long term downtrend is positive and suggests price could keep rising for some time.

ILU 11Feb22

10 December 2021

ILU appears to have bounced off the bottom boundary of a price channel which suggests it could return to the top boundary in time. There is material overhead resistance at $10.10 which price may struggle to breach, however, should it do so, then there is a potential target of $12.14

ILU 10Dec21

Contact

Robert Norman

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

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