IGO may have created a new pivot low at $6.75
IGO reported an operationally in-line quarter, with 1H FY24 underlying EBITDA of A$515mn below expectations with higher lithium earnings offset by nickel & corporate/exploration expenses.
IGO needs to hold the higher low formation at $7.03. Otherwise, a stop loss should be applied.
IGO has formed a higher low formation and the buying momentum has pushed the price action above the 10-day average.
IGO remains under watch as we wait for the buying momentum to pick up.
IGO is on our watchlist and we’re looking for a positive cross through the 10-day average to confirm the buying momentum.
IGO is now on my watchlist.
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