Closed at a new 52 week high....bots were still about today but the stock still managed to close near its highs for the day.
The weekly chart shows that IFE has been in a wild up trend since november 09. The stock has recently spent 7 weeks consolidating in a trading range around 1.30 to 1.40.
During this consolidation/accumulation it has built up enough energy to stage another impressive run, breakout last week suggested that a new leg up has begun.
The iron ore sector has been on fire of late, IFE has some catching up to do to make up for that almost 2 months of side ways action.
TYX Price at posting:
$1.61 Sentiment: Buy Disclosure: Held
