Stock Chart Analysis IVN

Posted by downtowntrader | 5/03/2007 08:51:00 PM | 0 comments »

Stock Chart Analysis IVN

Ivanhoe Mines Ltd. (USA) (Public, NYSE:IVN)

Gold looks like it put in a near term bottom, so I was looking for possible beneficiaries in the mining stocks. IVN has a very nice looking chart and is very close to all time highs. It is bouncing off the lower bollinger band and has formed a couple narrow range candles which would allow for a good risk / reward setup. Add some oversold indicators starting to turn up, and there is a good chance of picking a near term bottom here.

Good Trading,