I suspect there are a lot of investors getting very impatient with IGR and their selling may be pressuring the stock.
For example, they only have to look at a precious metals stock like AYN which has risen 150% since the middle of March to get itchy fingers at their computer keyboard, sell out and chase after a "runner."
I wonder how many investors will sell out of IGR just before it runs? And what may be even worse - switch their money into a stock that drops in price.
It happens so often. Finally worn down by rising price inaction or underperformance, investors bail out just before a rerating - just like so many investors bailed out of IGR when it was languishing in the low 20s seemingly unable to move higher no matter what news was released to the ASX.
Sometimes with a stock like IGR imo it is best just to check the gold price, our Gold Index and news released by IGR and not watch every half cent move up and down.
IGR Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held