@mikebrisy , will not for a second, claim to be a "chartist" by any stretch of the imagination, but here is my amateur chart perspective of IEL. Have been watching IEL for a while but gave up on it as it ran away. Am now having a closer look again following your comments, hence my interest in the chart (this was a quick re-look).

Lines and rectangles are support (green dots)/resistance (red dots) levels going back to early 2019, so there is decent history to this. Today's price closed at 20.46, which was almost the exact same level it fell to around June 22 and again in May 21, so this level has some historical significance as a floor. If this floor breaks down, then ~18.49 is likely to be next followed by 16.70-17.56.

IEL Is very oversold based on the RSI Oscillator at the bottom, so I suspect it will now either churn or bounce upwards soon-ish. Initial bounces may stop around 21.90-ish as that level (green line) has historically been a support area as well - the price has tested this level and bounced from there several times - May 22, Mar 21, Nov 20. Am thinking that it may bounce around 20.46 and 22.00 in the short term, while the market decides whether to spike up or down.

If I were to open a position on IEL myself (and am considering that quite seriously), I would take a good % allocation around this 20.46 level-ish now, but be ready to pick another round around 18.50-ish, if it drops, failing which, would accept that 20.46-ish is the floor and build up the position between 20.46 and 22.00.

Another thing I would watch out for is that the theory has it that price gaps are eventually "covered" - there is a gap around 25.00 when the news broke. Meaning, that the charts suggest that it will eventually climb back to cover that gap. Which coincidentally, is in the ballpark of @mikebrisy's valuation of 24.00-25.00.

As I write this, I think I am talking myself into opening a position ...!

Please take this straw with an absolute pinch of salt and form your own opinions! Hope this helps.