Going back a few days I pointed out that there was a discrepancy between the TSE and the S&P, which started the bear at least half a year earlier, so not both can be 5-waves. A possibility ( repeat possibility) is that wave one down on the S&P is not yet complete. So far that scenario remains a ( remote?) possibility.
IVN traded at a high of about $8.50, as it was bought at $6 we have more than the 30% increase. I am not recommending selling ($12 is the target) but I do need some agreed format to calculate the return of these recommendations. So for that purpose we are out.
Here are the charts on Reitmans –
and shorter term.
The interesting thing about this stock is that there is absolutely nothing random about it’s walk Like Ivanhoe and very many others this is an a-b-c corrective move that is probable complete, notice that , though not precise, the two legs are equal in both magnitude and time. in other words vector equal. This is a very common occurrence which alone belies the random walk concept. In reality markets just love symmetry to the point that looking for it can give you an edge when investing.
As far as the future of RET.A is concerned, I have no idea what the proper count would be, that is I do not know if this is wave 4, or wave 2 of a higher degree but in both cases I think the path of least resistance is up, a break of $12 would be decidedly bullish for a target (at first) of $19. A drop below $7 would be reason for concern.
Lets hope the old wives tale that you buy at a yield >6% and a P/E< 6 still holds.
This thing is so big that once it is in  production you will not be able to give the stuff (copper, mostly) away. Be patient as $12 is on the horizon.