vcm11

50ma resistance 108p / bullish divergence 155p target

LSE:IDP   INNOVADERMA PLC ORD EUR0.10
90p possible retrace where 20ma is, before next leg
108p next resistance
155p after.

Bear in mind:

Cash and net debt

The Group carried a cash balance of GBP0.7m at the end of the reported
period as against an opening balance as at the 1 July 2018 of GBP1.9m.
Funds have been deployed in the continued building of the customer
list and on-line marketing spend. The Company also acquired a further
1% of the Skinny Tan subsidiary from the founder during the period.
The Company expects a profitable and cash generative second half
with discussions already underway with a major financial institution
to provide global banking services and financing should funds be
required to support incremental growth opportunities.

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