Yeah it’s holding ok after the drilling announcement propped it up..
My last analysis was spot on the share price did fall to 3.1c as I predicted (well I posted 3.2c) before the announcement and I’d say it would’ve settled at 3.2c without the announcement.. But now we need more announcements to keep it up..
What I see now, the broker volume spread (ie what you see in commsec et al) doesn’t reflect the really strong positive sentiment (seen in the circle on the chart below), with an additional Bollinger squeeze that has been off for several months.. The positive sentiment will peak now and will wane back towards negative early-mid next week unless we have some follow up news, and it’s just how it is..
There’s support in the uptrend (the tick on the chart) it’s a great start, but again we need more news to continue that support..
The macd is trailing parallel to the signal line, (the asterisk) but it did start to curve towards a cross for a sell signal before the announcement kicked it up..
On a side note theres a number of other sites I use to confirm particular patterns and strategies showing a strong buy for inca at the moment..
ICG Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
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