Trend Line Analysis Meets IchimokuIvanhoe Electric Inc.BATS:IEtroydowvanzandtFirst of all, let me say that in the long run, I am ultra-bullish on IE. I know the copper industry in Arizona, and their Santa Cruz Project outside of Casa Grande will be a huge winner. I see the stock a couple of years from now trading between $40 and $50. In the short-term, however, it's getting its teeth kicked in. In terms of pure trend-line analysis, it looks like we're going to get a close below the 21 November pivot low. If so, I see it headed down the $8.55-ish level established by last year's rounded bottom. I do not use Ichimoku as a mere indicator. I use it as a holistic trading system. IE is in the midst of a clearly established Sanyaku Gyakuten. Ideally, you'd like a retrace to the Tenkan-sen (red line) or the Kijun-sen (blue line) for an entry, but IE probably isn't going to touch these again anytime soon, and a Kijun snapback is unlikely considering the current impetus. Consequently, you have to base an entry on trend-line analysis. We are also just about to come upon a Kumo twist. Note that the green cloud is about to pinch and turn red. These points tend to accelerate current trends.