Iamgold Corporation (IAG) - Eyeing a Breakout Above Key Resis 📈 NYSE: IAG | CMP: $6.57 | Target: $7.50 - $8.20 | SL: $6.20
🔍 Analysis:
Iamgold Corporation (IAG) has been forming a strong uptrend, with price action consistently making higher highs and higher lows. The stock is currently testing the major resistance level at $6.72. A breakout above this level could trigger further upside momentum.
Key Levels:
✅ Support: $4.92 (previous swing low)
✅ Resistance: $6.72 (breakout zone)
✅ Target 1: $7.50
✅ Target 2: $8.20
Technical Indicators:
✅ Price trading above 50 & 200 EMA – Bullish confirmation
✅ Volume increasing – Suggests accumulation before breakout
✅ MACD & RSI bullish – Strengthening momentum
💡 Trade Plan:
Entry: Above $6.75 on breakout confirmation
Stop-Loss: Below $6.20
Target 1: $7.50
Target 2: $8.20
🚀 Breakout confirmation with strong volume could push IAG towards $7.50-$8.20. Keep an eye on the resistance zone at $6.72!
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