ICRD - International Card Establish (OTC BB)

New ICRD Rabbit Report for January 14, 2008

International Card Establishment, Inc. - ICRD
After trading in a gradual downtrend for most of 2007, ICRD staged a strong rally in the final week of the year. It then bucked the negative trend of the overall market during the first week of the New Year, testing - but failing to penetrate - its overhead resistance line, currently posi-tioned at 16 cents a share. The stock pulled back a bit in the second week of 2008, giving up about 40 percent of its most recent upward move before stopping short at the 11-cent level - which now represents a strong short-term support level. Technically speaking, this is a classic retracement pattern, setting the stage for a second move higher - one that, given the successful test of the short-term support, should carry through the upside resistance line. When that hap-pens, the stock should easily carry to the 20-cent mark, the current level of intermediate-term resistance. If ICRD can successfully move past that barrier in the next few weeks, it should quickly move up to at least 26 cents - and could approach 30 cents by early spring - giving buy-ers at current levels a solid double. Given the strong support the Company's fundamentals give to this technical outlook, International Card Establishment, Inc., would have to be rated a STRONG BUY at current price levels. . - Larry D. Spears

The Rabbit Report is our name for the technical interpretations provided by our Editor in Chief and Technical Analyst, Larry D. Spears.

Why? Well, a few years back, one of his readers at a major metropolitan newspaper (that shall remain nameless) disagreed with one of his editorial opinions and came after him armed with a shotgun. Thankfully, the assault was unsuccessful, but Larry developed an acute case of camera shyness (can't shoot him if you don't know what he looks like, ya know) and decided he needed an alter ego.

Recognizing the obvious parallel between his experience and that of Bugs Bunny versus Elmer Fudd, Larry opted to use The Rabbit as his public personae. Thus, The Rabbit -- and TSR's regular Rabbit Report!