Buyers have been patient but price may now be showing signs of life

Potential Buy Entry Alert to Watch IMD

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $454.59 Million Market Cap, VWAP 1.20, ASX Ranking 374, 4 Week Av Turnover $1,257,359, Current Turnover (Intraday as at time of alert) $2,024,128, PE 18.5, Div Yield 0.67%.

Company Overview : Imdex Limited (IMD) is a provider of drilling fluid products, advance downhole instrumentation, data solutions and geo-analytics services to exploration, development and production companies in the minerals and oil and gas sectors worldwide.

Broker Consensus : Not covered by a major broker

IMD – Imdex Limited

IMD has been consolidating for the past year but buyers are starting to build as we see volume pick up. There is still a lot of work to do but if we see a higher low build, then we may expect to see a strong run higher. Patients is the key now as we wait for the buy entry setup.

Stock Code : IMD – Imdex Limited

Company Website : www.imdexlimited.com

Current Price : 1.20

Status : On watch for potential higher low and push up through 1.40