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ioneer Ltd
INR Details
ioneer Ltd (ASX: INR) is an emerging lithium-boron producer which is set to develop one of the most attractive lithium projects globally. Its 100%-owned Rhyolite Ridge Lithium-Boron Project in Nevada, USA provides important foundation for the company to become a responsible as well as profitable producer of the necessary materials.
Results Performance (Half-year Ended December 2021)
Recent Updates
INR has announced the retirement of Mr. Julian Babarczy as the Non-Executive Director of the company.
In the release dated 1st July 2022, the company announced the commencement of trading on the NASDAQ under an ADR listing.
Technical Overview:
Chart:
Source: REFINITIV
Note: Purple Color Line Reflects RSI (14-Period)
INR prices witnessed a gradual recovery in the prices from the key supporting levels. The stock was hovering in a rising wedge pattern on a daily chart but the stock recently broke its rising wedge pattern that indicates the prices might decline in the coming period. RSI (14-period) is trading at moderate zone at~53.76 on a daily chart that indicates indecision in the stock prices. Immediate support levels are AUD 0.406 and AUD 0.385 while key resistance levels are AUD 0.500 and AUD 0.580.
Stock Recommendation
Considering the resistance and target level achievement, current trading levels and risks associated, we are of the view that it is prudent to exit the position at the current levels.
Hence, we give a 'Sell' rating on the stock at the current price of AUD 0.463 per share (as of July 12, 2022, at 10:53 AM GMT +10, Sydney, Australia).
Note 1: The reference data in this report has been partly sourced from REFINITIV.