ILU is poised to bust up through resistance to new highs

Trade Management

Current Open Alert

 

ILU – Iluka Resources

Stock : ILU – Iluka Resources

Current Price : 9.47

Previous Buy Entry (Trigger Level) : 8.95

New Sell Exit Zone (Stop Loss) : 9.00

Status : On Watch for continuation higher

ILU has struggled a little around resistance at 9.50/9.60 but still looks ready to kick through to new highs. We see the higher lows holding and build the fuel needed for a move higher. We are happy now to raise the risk to lock in a breakeven trade and watch for continuation to new highs.

 

ORIGINAL ENTRY ALERT 5/7/17

Stock : ILU – Iluka Resources

Current Price : $8.95

New Buy Entry (Trigger Level) : $8.95

New sell exit level (Stop Loss) : $8.34

ILU has great price structure both on the daily and weekly charts. We are now watching for an initial move higher to the $9.30 level and then continuation toward the $10 mark and the previous $12 highs.