Buyers run for the hills on news release as price opens weaker

Price action opens weaker on quarterly report for ILU as it seems that we were caught in a pump from buyers into the release. The Alert is now closed as the Stop Loss was triggered on the open while price has bounced back to currently trade at 10.55.

Alert History

Previous Alert 22/07/19

Buyers push price higher on the open to trigger the Buy Entry level on ILU at 10.95 so the alert is now active. The Stop Loss is held at 10.40 and the current price is trading at 10.98.

Original Alert 19/07/19

New Buy Entry Alert ILU

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $4.52 Billion Market Cap, VWAP 10.611, ASX Ranking 92, 4 Week Av Turnover $18,081,716, Current Turnover (Intraday as at time of alert) $1,501,416, PE 14.8, Div Yield 2.71%.

Company Overview : Iluka Resources Limited (ILU) is involved in the exploration, project development, operation, processing and marketing of mineral sands. Operations are located in Australia, Sierra Leone and the United States.

Broker Consensus : BUY

ILU – Iluka Resources Limited

ILU is on the move and poised to continue the longer term move higher. Watching now for the volume to pick up as price holds higher levels. We are happy to buy on a push up through 10.95 and will hold the risk level and stop loss at 10.40. If price falls below 10.40 prior to entry, then we are happy to cancel the alert and re-assess the action.

Stock Code : ILU – Iluka Resources Limited

Company Website : www.iluka.com

Current Price : 10.74

New Potential Buy Entry (Trigger Level) : 10.95

Potential Sell Exit Zone (Stop Loss) : 10.40

Status : On watch for buy entry trigger