ShrutiAggarwal
Member Since 8 December 2015
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Last Seen: 11 Mar '19

ShrutiAggarwal's Insights

Relating to IOF.L

Topics: Analysis
Other Insights on Related Shares: IOF.L
Related Shares: Iofina Plc Share Price

Iofina Plc. is a ‘Buy’ at the current levels as the stock offers a phenomenal scope of upside! The stock finished trading on the London stock exchange at 13.0p a share, up by 6% compared to the previous close. Yesterday, the stock was one of the top gainers on the bourses and we expect the northward journey to continue. In our last article on Iofina Plc., we had given the target of 20p and the stock did rise from 13.0p to 16.0p respectively. However, it couldn’t breach the resistance of 16.0 p and afterwards headed for a correction.  The stock took support at 10.0p and has been rising after its consolidation at the same level. In terms of technical analysis or charting, the stock has surpassed the downward trend line which also confirms the trend reversal and likely bullish trend. Currently, the stock has been trading above its 20 day moving average (DMA), 50 DMA and below 100 DMA of 12.1p, 12.98p and 13.8p respectively. MACD and RSI also confirms the buying, thus traders can initiate fresh longs at the current levels for the target of 23.0p. We revise the target price to 23.0p and the time frame to achieve this target would be 0 to 3 months.

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Topics: Analysis
Other Insights on Related Shares: IOF.L
Related Shares: Iofina Plc Share Price

Iofina plc. is a holding company. The Company is involved in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Its segments are Iodine and Iodine Derivatives, and Montana. The activities of the Iodine and Iodine Derivatives segment include the production of raw iodine, and the production of iodine derivatives and other non-iodine based chemical derivatives. The Montana segment includes the Atlantis Field project for the exploration and production of natural gas, iodine and water for use in various applications, and the Montana Water Depot project, which includes volumes of water retrieved, stored and shipped to customers in close proximity to be used mainly for fracking. It is also engaged in recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. It’s Wellhead Extraction Technology (WET) and WET IOsorb methods enable the co-production of iodine from brine.

Iofina Plc. is a compelling ‘Buy’ at the current price level as the stock is surely undervalued in terms of valuation. The stock finished trading on the London Stock exchange on 3nd May at 12.8p a share, up by 1.8% compared to previous close. It seems that the stock would continue to rally as it has had its share of correction. The stock has been trading above its 20 day moving average (DMA), 50 DMA and 100 DMA of 10.9p. 10.3p and 9.9 p respectively. This is also a bullish indicator that the stock has surpassed the moving averages as well. In terms of technical analysis or charting, the daily chart has been making green marubozu candles which also points out towards the continuing rally of the stock. The immediate resistance for the stock is at 13.0p, any breakout above 13.0p would surely means fresh highs of the stock. Therefore, traders or investors need to keep an eye on the respective levels of the stock and accordingly initiate fresh positions. The weekly chart points out the formation of rounding top pattern which would be completed at 20.0p. Therefore, we set a short term target of the stock at 20.0p and the time frame to achieve this target would be 0 to 2 months. (Read more)

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