When you look at the trades going through, it looks like the market is preparing to let us rerate.
From the chart, there are two immediate resistance levels - 0.0073 and 0.0126.
When shareholders go through a torrid time, like IBN's have, it is human nature that a lot of them are waiting just to get their money back. In looking at the chart, large volumes were traded back in Aug/Sep 2015 so I would be expecting quite a few of those shareholders would be wanting to get their money back. That would give us the next resistance level of 0.017.
0.017 would see a MC of 29m, which I think would be reasonably fair value if the restructuring that's underway goes according to plan. The time frame........maybe June 2018?????
IBN Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
