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IGO - IGO Limited

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Was looking to take a bit out of a possible W5 after closing out all my prior positions a little early, but it looks like my stop may get taken...
 

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IGO at an interesting point, could be forming a double bottom around $7.00, if falls through that figure on volume could go to $6.00. IGO bounced off the 7.00 with good support yesterday so I took a small long pos. They are I consider one of the best junior nickel plays. porkpie
 
I think this could possibly be the low,sits on three major fibbo lines,actualy four , multiply the top by .38% and take away and see what byuo get ,5.45??? the current low also it sits on major trend line off jan o7 low also on weekly has just poked its nose throu the 200 day line or 30 week line also a time factor is involved also do i see a slight change in the nickel price and supply??? or is it my imagination.
 
Gees got that wrong Didnt eye, WERE too from heregot too a 50% point tday on low vol then the vol kicked in , and nickel chart changed my mind it looks like sht.
 
I thought that todays announcement was good regarding the ' Tropicana' joint venture, but the market has other views, IGO has certainly been hammered today on heavy volume. Anyone else following IGO?.porkpie
 
This is a stock I have held for a while now.

One thing that puzzles me about it is the large price swings it has.

Today it is up 7%. It's a bit like watching a yoyo.

Does anyone have any opinions on why it swings so much? Is there rumours of take overs or is it just to do with metal price fluctuations?
 
I know what you mean, IGO has had some swings of late. But what a great trader it's been, this company is making good profits has a great future with Tropicana and is dept free so every time it dips I buy a few more and then trade these swings with CFD's, IGO is one of my FAB 4 as I call them along MCR SMY & JML, trade these on sell offs and you can't go wrong ( I bought into JML last Friday). porkpie
 
Intresting to note, when comparing IGO with MCR &SMY two other junior nickel miners is the relative strength, IGO has certainly out performed the other two.porkpie
 
Who is watching IGO at the moment, fundamentals good, relative strength with materials sector good, with other junior nickel stocks good. But chart wise is IGO making a triple top as it tests its all time high.porkpie
 
I think that I'm talking to myselfe about IGO, they have broken through the $9.00 resistance today, IGO are the best performing junior Nickel stock. porkpie
 
Hey Porkpie....whats the go with IGO?

The chart looks a little sick at the moment.

They have cash, almost no debt, and good cash flows and JV's, tenements etc.

So why is the SP falling so profoundly. :dunno: is it simply the nickel
price and the currency arrangement.? or is there more to it?
 

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From a purely TA point, this one passes my rules. Its hovering around its lowest low for the last 6/7months, crossed below its 200 day MA, my bolinger signals a buy, and stochastics match up to me. If there isn't anything wrong with the company I think there will be a short term rally, so Ill take a nibble.
 
hmmmm.....anyone notice the recent activity of this one? From such a strong baseline trend way back as late 2003, I couldn't help but pick up some. I think the volume is starting to pick up with associated positive money flows. Anyway, one to keep our eyes on.
 

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Looks like a lot of other charts at the moment lucifuge. August has been a good month for a lot of stocks, thus represented in the bounce on the XAO. This may have put on a bit more than most, but lost a heck of a lot prior as well.
 
But what is most significant and should not be ignored is that the baseline trend established before the resource boom. Not a lot of other resource stocks can claim that. As the current price is marginally above that expectation now, there is at least some confidence *chart-wise* anyway.

kennas said:
Looks like a lot of other charts at the moment lucifuge. August has been a good month for a lot of stocks, thus represented in the bounce on the XAO. This may have put on a bit more than most, but lost a heck of a lot prior as well.
Click to expand...
 
Anyone holding this give me a quick rundown of why NAB has bought a big chunk ?? Is this something to look at ??
 
According to its 2008 annual report, IGO has a cash backing of $1.25 per share,production assets that generated an after tax profit of $51 million (i.e. Earnings Per Share of 44 ¢) and paid fully franked dividends of 17 ¢ per share.

See AGM08 Presentation

http://imagesignal.comsec.com.au/asxdata/20081119/pdf/00904393.pdf

Legend Mining Limited (ASX: LEG) today announced that it has acquired 3.4 million shares in Independence Group Limited (ASX: IGO) at an average cost of $1.44 per share. The shares were purchased on-market over the past six weeks.
 
http://www.wabusinessnews.com.au/en-story.php?/1/72160/Independence-directors-net-2-3m-in-sale/dba

Independence directors net $2.3m in sale
4-May-09 by Rebecca Lawson

Two directors with nickel miner Independence Group have sold over $2.3 million worth of shares through on-market trades.

Managing director Chris Bonwick has pocketed $1.81 million after he sold 500,000 shares (May 4) while non-executive director Rodney Marston netted $559,480 through the sale of 150,000 shares. (May 1)

Shares in Independence, which operates the Long nickel mine in WA, closed up 11 cents at $4 today.

Comment was being sought from Mr Bonwick at time of publishing.

Last week Independence reported a net profit after tax of $5 million for the March quarter, a turnaround from the previous quarter's net loss of $1.2 million.

At the end of March, the company had $128.7 million in cash and net receivables.

ASX ANN
29/04/2009 10:41 March 2009 Quarterly Report
 
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