gap from $1.365 from 16-17 dec 2010 filled today... SP closed tonight on 38.2 fib retracement from recent highs in the form of a clean hammer... so unless this is actually backed by something negative in the background I think we may see a reversal of the short term down trend... slow stochs crossed down as of last few days for sure but the more responsive fast stoch has flicked up...
all crystal ball stuff i know but in the absence of any solid information that points to a change in fundamentals I'll look to these technicals because thats the only info available... market depth worries me though...
clear hammer candlestick, retrace of recent gap up of couple weeks ago, and close on 38.2 retracement suggests a technical fill and bounce...
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on the level of fundamentals, I would have thought the floods and works entailed in rebuilding / clean up etc would be positive for short to medium term business of companies like IDL...???
IDL Price at posting:
$1.40 Sentiment: LT Buy Disclosure: Held
