If you remember, after the ODAC meeting ILXO's chart started looking great. Unfortunately, the market downturn ran ILXO off the road starting on the morning of December 18th. However, ILXO is now mounting a very strong technical turnaround. After bottoming on the 20th, ILXO has put in a classic V-shaped reversal. Even better, ILXO has closed at its high 3 days in a row!!! That indicates very strong momentum.
As of the close today, ILXO just closed above its 9, 13 and 25 day moving averages! Very nice. The 50 DMA is at $29. The 100 DMA is at $30 and the 200 DMA is $31. So, not only is ILXO likely to soon challenge those price levels (according to the TA), but if ILXO can break through any resistance there and close above $31 for a couple days, then the 200 DMA should become a new support level (the new ground floor -- I hope).
It would be an added bonus if a few institutions wanted to grab some ILXO before the end of the year for window dressing purposes. We shall see.