On low volumes its evident Shorter's and Institutions ( can be one and the same) have either-
-Filled their bags (unlikely as they have no limit ).
- Now need to show returns as they hold portfolios answerable by June 30th and now need to see some growth ( most likely, as they'd even be surprised how long and how much, they've been able to manipulate the market, in causing panic then scooping up shares). Their also long term holders who ultimately want 20-50 baggers as well.
- know the market and the likelihood of pending news - Either TO- FDA approval- Partnerships- Test results etc., Not only pending but likely to be a firecracker under the SP ( Most likely of all )
Besides the absence for once of manipulation (Halleluiah) T+2 traders are now in a three steps forward- two steps back environment. This leaves little time for error in three day cycles, before needing to settle on short term overnight trades.
- The tide's turning !!
Be patient and hang in if you can afford it !!
Not Financial Advice - Opinions Only- DYOR.
IMU Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
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