IRPC : Unless volume increases, remain cautious
March 3, 2011 Leave a comment
Some local brokers are saying buy IRPC now which is a tad late. In answer to a reader’s email. We think 5.60 is the key support, and as noted in a previous comment (Feb 23rd ) on this blog, we view 5.60 as the turning point level for the stock for now.
For the VST, we might have a look at 5.60 or so for a quick punt, but we fear a dip to 5.50 are for now do not see it as a buy. For that to change 1 main thing need to happen: volume needs to increase to nearer 250-300m shares for it to pass 5.90.