Guys, this is the simplest way I can demonstrate what's needed for the IMU to turn from bearish to bullish.
Below is simple Bollie Bands which have a median line. In an uptrend, the SP is above the median line and obviously in a downtrend it's below as you can clearly see. The SP hasn't closed above the median line since 19th November. And obviously a downtrend has captured the SP.
So, with a bit of positivity around, the goal is to get the SP to close (end of day closing price) above that median line which currently would be .265. That move would be quite bullish and we can establish new parameters from there.
This is quite simple but a very accurate way of monitoring the SP on any stock.
Leave you with it.
IMUGENE CHART. TA only, page-12950
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Last
5.5¢ |
Change
-0.002(3.51%) |
Mkt cap ! $404.2M | |||
| Open | High | Low | Value | Volume |
| 5.7¢ | 5.9¢ | 5.5¢ | $1.012M | 18.02M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 590122 | 5.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.6¢ | 1408449 | 3 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| IMU (ASX) Chart |