Patience required, page-6

This is a weekly chart of IBY since listing. A couple of TA things to point out. It is within a whisker of forming a medium term double bottom which will attract the interest of traders. The original break in early May was a fizzer and ran out of puff when it hit resistance at 40 cents in early July. There is some previous history of resistance at 40 cents in January 2014.

The price action is in an oversold zone and any momentum oscillator either daily or weekly will show this so it will be picked up in scans and should spike some interest.

A lot of sellers will have been mopped up already and more so today on a jump in volume. I have no idea what will happen from here really but for a start I would like to see the double bottom hold around the 25 cents level and this would be a good beginning.