Very hard to predict at this current stage because biotech stocks are getting hammered in the US (notably Pfizer, Astrazeneca, Merck - all down 1% as i type). So, IMU may follow suit. Based on technicals and subject to if ASX and NASDAQ are in the green, I am leaning to believe we will see a bounce just because the company's fundamentals haven't change, while its sciences are making progress.
I think IMU is currently facing a real evaluation by the market, while it does feels like accumulation is being play at the moment. Note that we have recently establish patents across different nations to secure the technology... why is that? think about it.
I just had a quick look at what is "at play" with IMU currently and compared with the games that were "at play" with Viralytics (see 2nd image below from Investing.com). Just doing this as an experiment. See what I found? I dont need to explain much... I am just believing we will bounce at some stage, but I am tending to believe we have so much upside to move upwards instead of a continue downtrend after the bounce as shown in Viralytic's chart. This is because we have multiple pipelines of exciting cancer trials. I will leave this here for everyone to interpret the data.
Kev out.
IMU Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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