Technical Analysis IGO Ltd ASX:IGO (Bullish)

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IGO Ltd (ASX:IGO) is a leading exploration and mining company. Their key focus is to discover, develop and operate quality assets focused on metals critical to enabling clean energy. Around the globe, IGO’s teams are finding and producing specialist metals that make the storage of energy more effective and efficient. All this is helping to achieve IGO’s goal of making long-term improvements to the lifestyle of hundreds of millions of people around the world.

(ASX:IGO)

  • New support zone forming around $7.20, well above old support zone of $6.10
  • Price appears to be rebounding from a double top pattern, bouncing off new support zone.
  • Three white soldier pattern beginning to form indicating a buy signal
  • MACD line is approaching MACD (EMA), crossing above will indicate further buy signal

 

Chart Legend

Red/Yellow – MACD

Blue – MACD (EMA)

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