A slightly more expanded view of IMU’s current charting...

A slightly more expanded view of IMU’s current charting situation than my daily chart post earlier in this thread.

If the weekly perspective is looked at, Price has fallen outside the trading channel, which has been in place since mid November last year.  This is the first week that we have closed outside of this channel.
Interestingly the close was.93 which is just above the 50 sma of .92.  . Close is also just above the lower weekly bolly of .91.  The weekly chart also shows the longer term 61.8 fib acting as support.  Albeit this support is .85
So obviously looking to this zone for support
I think next week is critical to the share price direction of IMU over the coming weeks.  If the above referenced support points hold, we need to break the now strong, overhead resistance of .11.  This price point is pretty much the convergence point of the 38.2 fib, 20 sma and lower support line of the ascending channel.



IMU weekly Bolly's (MA clutter hidden)


Short term ‘worst case scenario’ is the .85 support level
My view is we will need a catalyst for the share price to appreciate and close above the overhead resistance points, ideally in the form of a positive announcement.  I will leave it to others to speculate when this is likely to occur.

As always just my views only

GLTAH
Charlie