ILU - Iluka Resources

[pixel]

Do either of you guys take into consideration the fact that the fundamentals have changed in the last 12 months?

yes and no:
By using the chart in this context, I become aware of changed market sentiment; if I am interested in the stock and its story behind the chart, I can always ask "Why?" - and that's when I may become involved with the business model then and now. It's a bit like the chicken-and-egg poser: What do you look at first?

 

[Gringotts Bank]

Do either of you guys take into consideration the fact that the fundamentals have changed in the last 12 months?

I feel like those who move markets (institutional investors/traders) will know all about fundamentals, and therefore it will be reflected in the charts.

 

[ricee007]

Cheers guys.

Interesting Gringotts. I'm not sure that logic is watertight, but its good to hear it.

I'm still on the sidelines of ILU, thinking about it.... but it is a very negative chart so I am not busting to get in atm.

 

[pixel]

Added a longer-term view (Monthly chart) and found some interesting historic s/r levels coinciding with Fibonacci extensions and a trendline:



Disclosure: Not yet holding, but watching.

 

[notting]

Pulling the plug on mines is highly rewarded these day!

 

[notting]

Pulling the plug on mines is highly rewarded these day!

ILU has sunk from an $18.5 million profit to a $62.5 million full year loss but insists the company's financial health is sound.
Prices for Iluka's zircon and titanium dioxide products had continued to fall, offsetting the benefits of higher sales.

The fully-franked final dividend was increased from 4 to 13 cents a share.:rippergun

A report like this should make you run for the hills, but the market likes it.
Perhaps some smart person pushed it up through a technical level in order to take a big short when that little play finishes!
Opportunity knocks.

 

[notting]

Oh we delayed the release of guidance a tad.
Here it is _ Shorters get lucky!

 

[greggles]

Iluka Resources flirting with $12, which it last attempted to breach back in late 2013. It's been on a great run since October 2016 having increased in price from $5.50 to around $12. The big question is can it break through $12 convincingly and keep moving higher?

 

[greggles]

The big question is can it break through $12 convincingly and keep moving higher?

Well, the answer to that question is clearly an emphatic "no". After range trading between $12 and $10.75 for a few months between May and mid-August, the ILU share price took a dive following the release of the company's FY18 results, which didn't actually look that bad to me but must have been below expectations.

Yesterday, the ILU share price touched $9, which served as support in September and November 2017, and it appears that it has done so again this month. Today, Iluka has bounced back to $9.28 and I suspect that we could see a recovery here and a slow climb back to previous highs around $12-$12.25.

 

[So_Cynical]

Iluka has been a good trading stock doing biggish moves up and down, a big stock with lots of liquidity, a big business with shifting CAPEX costs as new mines develop and old mines close, buy cheap be patient and sell near tops and do can do well, 10 year chart below.
~

 

[greggles]

Looks like a double bottom for ILU at $7.00 around Christmas and New Year.

This morning ILU announced the the inaugural Mineral Resource estimate of rutile mineralisation at the Pejebu Deposit in Sierra Leone, which consists of 23.4Mt material at 0.95% in situ rutile, containing 0.22Mt of rutile.

Iluka also released its 31 December 2018 Quarterly Review this morning. I'll reproduce the Key Features section below:

The market liked the report, pushing ILU up 9.7% to $8.24. It's a long way back to those previous highs around $12.25 but at last ILU is heading in the right direction.

 

[Boggo]

Not very convincing behaviour today but one view of it at the moment.

(click to expand)

 

[Boggo]

Follow up from post above.
It's "in the box" at the moment, needs to head to the next target area now. (I hold since break of W.1).

(click to expand)

 

[barney]

Looks like a double bottom for ILU at $7.00 around Christmas and New Year.

I know your post was back in January @greggles …. but that may have been one of the best calls of the year

Up over 50% since you called it .... in 6 months ……

I don't hold unfortunately, but buying double bottoms in good stocks after a long down turn is probably a good system to work on

 

[Boggo]

It's "in the box" at the moment, needs to head to the next target area now. (I hold since break of W.1).

Going the wrong way, go back

 

[peter2]

Don't we hate it when fundamentals interfere with a strong price trend.

 

[barney]

Going the wrong way, go back

Damn and LOL (in a painful kind of way) ……

Sometimes I wonder why we bother trying to pick Stocks at all

And people say trying to pick "Specs" is difficult!!

For anyone that bought at yesterdays break of the recent high …..

I am annoyed on your behalf even though I didn't … tough game

 

[Boggo]

Damn and LOL (in a painful kind of way) ……

Sometimes I wonder why we bother trying to pick Stocks at all

And people say trying to pick "Specs" is difficult!!

For anyone that bought at yesterdays break of the recent high …..

I am annoyed on your behalf even though I didn't … tough game

No problem here barney, my stop is still just above my entry and still intact.

Target areas really are areas to be aware of, this is a perfect example of hitting first chart target and then hesitating and either continuing up or turning back. Happens a lot.

Today's drop wasn't evident on yesterday's ILU daily behaviour whereas in the RRL daily chart there was evidence that someone was on to the upcoming news.

 

[barney]

Today's drop wasn't evident on yesterday's ILU daily behaviour whereas in the RRL daily chart there was evidence that someone was on to the upcoming news.

Glad you are still in Bog …. Totally unexpected SP today

 

[Boggo]

I had a tight stop on this, breakeven + a bit until the weekly stop moved up to take over.
This mornings opening triggered the alert but it had jumped the stop and the sell price which means I am still in and will probably get stopped out tomorrow arvo on the weekly stop for a loss.

Been having a better than average run so got to expect a hit every so often.

Had an almost identical scenario with RMD back in January where it jumped the weekly stop, I'd been in that for about a year so got out with a significantly reduced profit (am now back in again though).

All part of the process