Every investment professional has at least one friend who reckons finance workers don’t have “real” jobs. Because they can’t touch or hold the product, the job can’t be as decent and noble as building, mowing or clipping. Make sure you tell that friend about IPH Ltd.
IPH provides intellectual property services – patents and other design protection, trademarks and associated legal services. Initially listed in November 2014 at $2.10, its share price hit $6.83 yesterday, tripling in less than a year. Superior growth stories are hard to find, and IPH further fuelled this aspect of its corporate profile with the announcement of an acquisition of Pizzey’s, a smaller Brisbane and Canberra based competitor.
The chart suggests the price action is heating up, and becoming less stable. There are two scenarios; the immediately positive and the eventually positive (of course, anything is possible and the share price could also fall). Trading up through yesterday’s all time high at $6.83 could signal further exponential gains straight away. On the other hand, a pull back to “fill the gap” on the daily chart could see a sharp correction towards $5.80 and possibly major support at $5.50. While the path to higher share prices is not clear, it seems likely.