Definitely think that you are on the money re: break even point.
From memory, the vwap for the past breakout week was around 10.9 ($53015954.568 worth of trades for 484273676 shares - 4 Feb to 8 Feb) with an average parcel size at around 50,000 shares. The range was wild - 5.9 low to a 17 high. That leaves plenty of overhang still in the market and alot of people in serious profit.
Declining volumes have suggested consolidation, but ICG looks to have struggled at another major break point on the charts (14), which is slightly worrying from a trading perspective.
It looks as if the trading is set up for something to happen this arvo.
A very tough one to read and I'm wrong most times though, so hopefully we will see a nice long green stick today.
ICG Price at posting:
13.5¢ Sentiment: None Disclosure: Held
