New trading channel now formed.
Looks like 8c has become our new support base, it's tried to push lower a few times with no success as buyers snap up anything under 8c and at 8c as well.
8c was previous resistance level and now that looks like it's the new support base.
6.32m Shares traded at 8c so far.
The two dark blue lines are the normal trading channel range, anything outside this will be overbought and oversold but will come back to this channel usually.
Has done this for over a year and no reason for it to stop such a strong trading trend and pattern of behaviour.
Some consolidation now at the 8c level, more accumulation before taking the ascent to the next level.
I'm not looking to MOU2, that's just one box ticked out of many, I'm looking to those NPAT targets especially the $40mNPAT and more large financial planning groups signing up in 2017.
2017 looks like it will be an explosive and re-rating year for IAM.
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