IVANHOE MINES LTD - TSX: $IVN Builds Its Right-Side
Since recapturing its 200DMA back in February, IVANHOE MINES LTD - TSX:IVN has been trending sideways and in the process, building-out a massive base as we can observe from the Daily chart above.
Additionally, IVN continues to trade above all of its important moving averages 20/50/200 and remains in fine technical shape.
Furthermore, if one were to zoom-out to both the Weekly and Monthly time-frames, you can see that IVN is in the process of building-out a potential inverted H&S pattern that should such pattern materialize and complete, would suggest a measured move to the $5 - $5.25 zone.
Thus, both investors/traders may want to pay close attention to the action in the days/weeks ahead for if IVN can clear the $3.65 hurdle, such development would likely trigger its next meaningful advance into northern territory.
Additionally, IVN continues to trade above all of its important moving averages 20/50/200 and remains in fine technical shape.
Furthermore, if one were to zoom-out to both the Weekly and Monthly time-frames, you can see that IVN is in the process of building-out a potential inverted H&S pattern that should such pattern materialize and complete, would suggest a measured move to the $5 - $5.25 zone.
Thus, both investors/traders may want to pay close attention to the action in the days/weeks ahead for if IVN can clear the $3.65 hurdle, such development would likely trigger its next meaningful advance into northern territory.
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
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