Descending triangle bottom & Head/Shoulder bottom, which is pretty bullish setup for a big spike up technically. There is 2 ways the SP can goes from here. Up or down to zero. At the moment, it has more room to go to the upside than down.
I did say, last month... IBG is one of the best trading stocks, because the volume is always there. Manipulator pumpers/fund managers/mum & dad late followers don't really care if IBG will get funding or not, bad or good management. Often you'll see share price of any random penny stock goes up massively without any news/announcement (it also happened IBG from time-to-time over the past few years & if you are a skilled trader, it was quite an easy money to make). From a technical analysis side, I can see IBG has a big potential to go up massively to $0.2 resistance target with or without progress. If there is no progress, the SP could trickle down again back to 0.04. But, hey... why not capitalise anything if it's going up?
The trick is to know when to buy & sell at the right time .
IBG Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
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