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IMUGENE CHART. TA only, page-17881

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Zior

1,392 Posts.

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19/08/22

14:09

Post #: 63213368
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Originally posted by stipper: ↑

Is this just a holding pattern for the next announcement? Lesley mentioned they expected to release info on the cohort 1/2 patient progress soon in her interview.

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I feel if we drop a few more pips and bounce, we have a reasonable chance of testing the major resistance above us again. Just a game of patience at the moment.

Originally posted by jdpc35: ↑

Good posts - I also see the move from 13c to 31.5c as an Elliot Wave 1 - the fractals in my Wave 1 count being:

i - from 13.0c to 14.5c
ii - from 14.5c to 13.5c
iii - from 13.5c to 28.5c broken up as:
(i) 13.5 to 16.5
(ii) 16.5 to 14.0
(iii) 14.0 to 24.5 (+10.5 = longest wave in accordance with EW rules)
(iv) 24.5 to 18.0
(v) 18.0 to 28.5
iv - from 28.5c to 21.25c
v - from 21.25c to 31.5c broken up as:
(i) from 21.25 to 25.25
(ii) from 25.25 to 21.5
(iii) from 21.5 to 28.5
(iv) from 28.5 to 27.0
(v) from 27.0 to 31.5

So this suggests we are now in Wave 2, which is so far playing out to a copybook ABC correction - either we have finished the correction yesterday (not my thinking) or we have finished a minor 'abc' for the A Wave, will now see a B 'up' wave unfold and then see a final C wave down to a lower level (this is my current thinking as we have not yet reached even a 38.2% correction of Wave 1, so looks to be a little short both in price correction and duration at the moment). Note that Wave 1 was 43 trading days duration and we have only seen 5 trading days duration for this correction so far.

A 38.2% Fib correction of Wave 1 gives us a final price target of 24.4c, a 50% correction = 22.3c and a 61.8% correction = 20.1c. Personally, I am looking for at least the 50% correction level as it roughly lines up with the wave (iv) of one lesser degree low of 21.25c (which is a support level I often see come into play in these circumstances).

Then we get into what should be a Wave 3, with my targets (assuming a 21c low for this corrective wave) being:

1.618 x Wave 1 = +30c (so around 51c peak)
2.618 x Wave 1 = +48.5c (so almost a 70c peak)

Just my chartist musings and not investment advice. Fundamentals must always be the core of investment analysis, but charts help to give us guidance and signposts.

GLTA & DYOR

Expand

Fantastic wave analysis @jdpc35
If you zoom out a little further, I believe we are at the start of a significant wave 3, with a massive bull run about to occur.
Last edited by Zior: 19/08/22

IMU Price at posting: 26.5¢ Sentiment: Buy Disclosure: Not Held
44 Upvote

5 Great analysis

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