IVN Ivanhoe Mines Ltd 30 minute low short daytrade



IVN gapped down 3.94% on news of a one of their mines delayed for a year from producing gold. The stock continued lower and had weak bounces the first 30 minutes. When you see this type of pattern on above average early volume, shorting the stock when it breaks the 30 minute low is usually a profitable trade. The short triggered when IVN traded at $14.83, and it quickly traded down to $14.26 for a maximum reward/risk of $0.57/$0.19.



Leave a Reply