Walls? Those offers sitting there are meagre tokens in context. We have traded over 125 times the volume of the largest offer line this week alone.
For the last 2 years I have spoken on and off about the fundamental strength increase while the price decreases, leading to a Price compression the likes of which I have never seen in my entire experience trading and investing. I have suggested many times that with the right catalyst, this will turn and begin a bull run that will make the 2019 run from 9.1c to 49.5c pale in comparison. This will be a direct result of the divergence between the company value (read fundamental picture) and the share price.
Our average daily volume has been around 20 million give or take. The volumes going through now are unprecedented, and I include the inclusion into the three indices (MCSI, 300 & 200). There is far too much upward fundamental pressure on the price (and subsequent technical divergence) for there to be little more than a temporary retrace at this exact point in time. I expect some brief(perhaps speaking in terms of days?) hesitation around 10c zone while the market takes stock, however I would not be the least bit surprised if this runs strong until we are back towards the first real roadblock at the 0.245 zone. We can then start to get a real technical picture of what is happening.
I don't believe we will see any real short squeeze as has been suggested. We will perhaps see a little bit of a contribution from those who took the classic trade short, however I believe the biggest portion of the shorts we are witness to are simply hedge positions that can be closed out without even the smallest blip on the price.
I think it is important to remember the following: for the last 2 years, every fundamental change has been positive and only added value (not price) to Imugene. Every one of these changes however, has only removed price from Imugene. The news we had on Monday, while significant, is not solely responsible for the reaction here. It is simply the catalyst, the straw on the camel if you will. We have 2 years of positive news to that also needs to be factored into the price movement and momentum.
I believe that perhaps, the recent results made public over the weekend have put a spotlight on IMU to some players that have been unaware of what is on offer. After taking a closer look, they are grabbing everything they can. Just be mindful however, that the run higher won't (and should not) be in one foul swoop. While a significant re-rate is welcome and warranted this is still a marathon not a sprint. The real game will begin when everyone on the register wants to hold their shares, creating a demand that cannot be filled. We have some churn to work through before that occurs, unless the new appetite is insatiable.
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