Looking at the company fundamentals, the current price action and the as yet unknown reaction on Monday I am trying to figure out whereto from here.
Below is a simple daily chart with a line at the recent 17.5 cent low on October 7th. I was expecting the possibility (before the announcemen)t of another touchdown at 17.5 cents or thereabouts soon which would form a potentially bullish double bottom. It is hard to say how the announcement will play out, obviously some will see it as negative to expectations. Anyway I can never pick how markets react, logic doesn't often work in many cases.
One would have to say that IBY appears to already be oversold, but that doesn't preclude it going down further. I see no evidence of it going down the gurgler, it is more about how long the move to sustainable profitability might take and the question of needing more capital and where the current price sits in relation to the situation.
I will play it by ear on Monday and see how it unfurls. Hopefully it will hold at or above the previous low or maybe bounce, doesn't seem likely but these things are always unpredictable
Daily chart
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