Our Algo Engine triggered a recent buy signal in IVC and the stock has continued to drift lower.
The next range of support is $14.30 , followed by the up trending support line marked as “support 2” in the graph below.
The negative price action over recent days is being driven by the market’s reaction to a change in industry competition in the UK and concerns that similar challenges may emerge in Australia.
IVC reports full year earnings result on 19th February.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks