Tuesday, September 15, 2009

IPHS Breakout Watch

Innophus Holding, Inc (IPHS) is a specialty chemical manufacturer (phosphate). It trades at less than 10x earnings.

IPHS triggered my breakout watch alert this afternoon when it topped $20.41. The chart for IPHS shows an ascending triangle with multiple tops in this zone: $20.35 in January, $20.28 in May, $20.41 in August.

Volume is light, and it looks like IPHS will close below the breakout price. But I'll be keeping a close watch for follow through on today's price action for the remainder of the week.

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