90p possible retrace where 20ma is, before next leg
108p next resistance
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...
IDP has broken long term down trend and has formed a cup and handle price pattern signalling a buy. Fundamentals also looking good with their new product Roots being made available in Tescos in November and appointment of new CEO. Buy limit should be placed just above the resistance line of the cup and handle.
Looks like it has broken the neckline of the lower bowl shape and retested it quite quickly.
The breakout looks to have continued momentum as it's now broken the more shallow of the longer term trend lines opening up quite a large possible trading range with good upside from the current buy price.
I'd be looking for anything from 300p upwards as the target.