TMCNet:  Investors look to Lighten Up on Shares of Ivanhoe Energy, Shares Down 9.9% (IVAN)

[March 18, 2013]

Investors look to Lighten Up on Shares of Ivanhoe Energy, Shares Down 9.9% (IVAN)

Mar 18, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Ivanhoe Energy (NASDAQ:IVAN) is one of today's worst performing penny stocks, down 9.9% to $0.64 on 2.0x average daily volume. Thus far today, Ivanhoe Energy has traded 911,000 shares, vs. average volume of 459,000 shares per day. The stock has underperformed the Dow (-9.9% to the Dow's -0.3%) and underperformed the S&P 500 (-9.9% to the S&P's -0.5%) during today's trading.


Ivanhoe Energy, Inc. is an independent international oil and gas exploration and development company. The Company's technologies include upgrading heavy oil to light oil and converting natural gas to liquids. Ivanhoe operates in Canada the United States and China.

There is potential upside of 19.5% for shares of Ivanhoe Energy based on a current price of $0.64 and an average consensus analyst price target of $0.77. The stock should run into initial resistance at its 200-day moving average (MA) of $0.66 and subsequent resistance at its 50-day MA of $0.75.

In the past 52 weeks, Ivanhoe Energy share prices have been bracketed by a low of $0.41 and a high of $2.03 and are now at $0.64, 57% above that low price. The 200-day and 50-day moving averages have moved 0.32% lower and 0.32% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Ivanhoe Energy and will alert subscribers who have IVAN in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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