I have attached both daily and weekly charts of IBY....

I have attached both daily and weekly charts of IBY. Unfortunately what looked like a promising tick up a couple of weeks back petered out on the 17th September and today the price has now formed a new all time low since the IPO. Technically a double bottom would have been nice but it was crunched the last couple of days, particularly today, along with many other emerging companies. It is looking extremely oversold technically.

Low volumes have been a frequent feature and very conducive to erratic price moves. It is a bit difficult to understand the malaise and lack of buyers but sometimes this happens and stocks end up being marooned. Obviously the institutions are not interested, it is still only in the all ords and there would have more interest if it was in the ASX300 for example. It is a waiting game and hopefully the market pullback will peter out soon, that would be a good start.

Daily Chart



Weekly Chart