The chart suggests IDT may be poised for a substantial upside move. I added to my position last week in anticipation.
IDT appears to be forming a neat Inverse Head and Shoulders formation, one that's been a little over a year in the making. Notable is the huge increase in volume since the base of the head was formed - usually a very promising sign.
However the formation has yet to be confirmed - the right shoulder is not yet completed. A weekly close above 31c is what's needed.
The weak $A is no doubt boosting IDT's potential profitability. It's probably not entirely a coincidence that IDT's 14 year decline from its all time high started in 2001, the same year the $A bottomed out and started a 10 year upward run.
The chart suggests IDT may be poised for a substantial upside...
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Last
11.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $38.66M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 11.5¢ | 11.0¢ | $16.34K | 145.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 201538 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 30651 | 1 |
View Market Depth
| Last trade - 15.49pm 21/06/2024 (20 minute delay) ? |
| IDT (ASX) Chart |