IMU 2.41% 8.1¢ imugene limited

IMUGENE CHART. TA only, page-4294

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    lightbulb Created with Sketch. 10524

    This is great, thankyou, you can have my lightbulb.

    As you have asked for tips I would refer you to an earlier post on Using Complimentary Time Frames. Your charts being a 4hr and a daily(6hr) is only a factor of 1.5, ideally you want to compare time frames around a factor of 4. I do like using a 4hr time frame in combination with a 1hr,but I find with the 6hr day on the asx the 1hr and 6hr work just as well together.
    I would also recommend changing your trend line to the bodies of the candles - wicks are often fake, technical battles are fought and locked in for close prices (where the body starts and finishes) and they carry the most weight. Adjust the trend line to this shows we have closed on it, not above.

    The 200sma is exactly why this turned around, well done. The 200sma is a very powerful S&R MA and overlooked by so many. This same (MA)level has shown up on my 1hr chart in the form of my e55 which is why I use it (200sma is approximately a factor of 4 to the e55).

    Bears have been too gutless to commit after their signals were left unanswered. This is bodes well forward the bulls. Whether or not a daily close above the trend line will give a reason for a breakout or not we should know tomorrow, especially we would be looking to retest that trend line followed by a bounce to verify it as support. If so we might finally be off to the races. The efforts to maintain this range has been somewhat similar to what happened just before the major rerate experienced from the 3-4 month range from the beginning of the year.

    Nothing too exciting going on any TF's to change my previous analysis. Some of the bull signal components have cooled a bit but still very much bullish as per last analysis, just treading water until news. Daily shown below gives us a fresh, albeit small, bullish divergence. Price has closed on the fib, we need to close above it. Generally the market does not like to sit still, it wants to move. Down hasn't worked. Up might be the answer, so a close above the fib (pink) could give us a good run. Importantly we are back above the e21(yellow), and you can see the bounce off the Cyan e55 (s200 on the 4hr) as well. We really want a pop higher followed by a retest of this zone and a bounce. Then we can get a little more excited
    https://hotcopper.com.au/data/attachments/3385/3385650-934f13c1408891b1f6cfe348c7b4b7b7.jpg
    Last edited by Zior: 21/07/21
 
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