We bought ILU at the end of October as a highly leveraged play on Chinese property, making it high-risk in nature, and it hasn’t disappointed on that front! However, we have targeted a move below $6 for some time, and at this stage if we held no position into yesterdays selling we would have pressed the “Buy Button”.
- We have traded ILU several times over the past few years, taking profits in June’23 at $11.66 and more recently in May’24 at $7.68; let’s hope this contrarian move proves as on point for a 3rd time.
MM long and cautiously bullish ILU
Add To Hit List
