Watch Infobank (IBI)…

Riz

Experienced member
1,266 5
IBI one of those plummeted to the ground from over £40…after its last big fall from 400 in Dec. to around 230 it formed 3 bottoms around this level (220-230)..and just about to form the 4th…this level is also it’s year low and looks like providing strong support…

With some positive news/recommendations coming in:-

SHARES magazine’s Technical analyst..

WestLB Panmure: Encouraged by news of another contract win for Infobank (IBI), the company’s house broker, WestLB Panmure, has restated its view that the shares could soar to 700p, from 235p today, within 12 months.

Most analysts do think that IBI has great products,it looks like the problem might be selling and marketing…maybe that’s why they made an alliance with an Italian company..

Infobank announces that InTrade V5, the company’s next generation B2B e-commerce trading infrastructure software, is to power BuildForum, a new trading community for the Finnish construction industry. The contract was won by ICL Invia, the Nordic subsidiary of e-Business services company ICL…

and positive signals from stochastics, RSI and MFI…it might be time to watch IBI closely for the start of recovery…I wouldn’t get in however till receiving enough positive OBV signal which is ticking down at the moment…

(no financial advice intended)

rizgar