Any chart gurus out there care to comment on IHR? It looks like a decent company that has potential from a fundamental/business potential over the next few years if they can maintain the organic growth they are seeing and generate positive cashflow soon. I am a very amateur chart reader, but have the following observations: - Currently in a pretty sustained downtrend with support at 20c. The current range extends down to about 15c at end of July. Will it break up or down? - Enormous gap at 6.6c from August last year when they did their last cap raise and Bevan Slattery came on board. Will this be filled or has business growth been enough to justify a 20c floor? - Very low volume lately, perhaps indicates buyers are on the sidelines until they raise again (only 3.5 qtrs of cash remain per 4C).
Personally I think I will wait a few months to see what happens with the chart and potential capital raising. I see no reason to rush in when it's on a downtrend and there is the potential for a large dilution ahead, particularly if they have to raise at lower prices. Interested to hear thoughts of others.
IHR Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
