IMUGENE CHART. TA only, page-7285

Hi @Single

Not much to update mate, we are still going through the same motions waiting for our bull run to begin. Any positive news will do this, alternatively if it takes longer technicals should also move this higher. Once it starts it should build momentum.

Our medium term D1 fib target remains 0.66 as per the tan coloured fib. This won't change now unless the 61.8% breaks with a weekly (or possibly daily) close under it. We've had a strong bounce again off the 50% to take some wind out of the sails/sales of the bears. Admittedly I did not expect to see a second attempt at it, I don't understand where the down pressure is still coming from. I know it was forced lower by a big player earlier on. Perhaps that's enough to rattle the confidence of some holders. The big player is still buying as evidenced this morning. When news drops, we are primed for a snap rerate at these levels. The spring is under compression and wants to release. Daily bullish divergence is building and will add to the momentum. Weekly divergence is not helping the bulls atm, we need a good run this week to get our MACD back in our favour. If it doesn't however, it's more a case of loosing some momentum rather than becoming a bear signal, though they might try.



News could drop any day from here on, surely the ethics committee meeting can't be too much longer. The other possibility that has not been mentioned is that the ethics board has already met and wanted a couple of things tidied up before giving approval, they are the Mayo Clinic after all. I don't expect that would need to be announced to market as its still in progress. Not long now until things get exciting.