Trade Alert-IBCP

This is one I've been watching with a member for a little while. I really like this trade and I'll show you why.

 As you can see, IBCP has come down substantially from $200 +, but look at the volume recently.

 The above was a 5 day chart, this is a daily chart. There's a clear base formed of about 5 months, it's substantial and could support a nice move up, most likely a multiple leg up trade of trending trade.

 3C daily has called it perfectly, from the negative divergence to the accumulation we'd expect to see in such a base.

 The 5 min chart shows accumulation recently and it's now leading price higher.

 Here's a closer look at the daily chart, note the reversal today and the red trendline around $3.36 and the base resistance at $3.60-once both of those levels are taken out, there should be substantial upside n this trade. This is a speculative trade, but not of the Cats and Dogs type. The base here is excellent and rarely seen in these type of stocks.

Here's a potential stop using the Trend Channel. You may wish to widen it initially. While the swing entry would be above $3.36, I have no problem with the trade long here and now.

Take a look and give it your consideration.