Analyse THIS! ... IMU Chart discussion, page-2

Bullish IMU Chart pattern

I don’t usually comment on charts (as I don’t have a very in-depth knowledge on technical indicators) but the current IMU chart really sticks out like the proverbial “sore thumb” or dare I say ... “sticks out like dogs balls”.

I like to keep my chart analysis very simple. So here I go...

The IMU chart looks to me like setting up for an aggressively bullish chart pattern called a “flag pole”. Even better, an even more bullish specific pattern of the flag pole called a “pennant”.

Provide below is some background reading on flagpoles and pennants from investopedia.com.

Some Chartists believe the next share price move, after a bullish flagpole/pennant is formed, is for another aggressively bullish up-move equivalent to the preceding flagpole move...in IMU’s case a move up 1.2 cents (from 1.5c to 2.7c) in about one week!!!

In other words, this chart pattern suggests the next stage of IMU’s share price move is predicted to go quickly from 2.7c to 3.9c in about a week, after the sp consolidation at the 2.4c to 2.7 c “flag”/“pennant” level has been exhausted.

So watch out for a sustained break-out when sp hits 2.8c in coming days. For those that have been in IMU awhile... the 2.8c level is also very significant because that was the price of the very large capital raise of two years ago ... Lots of eyes on that 2.8c level to see if it is breached.

Anyway, thought I’d just put that out there... discussions and comments very welcomed! In particular from those on the IMU boards that I consider far more versed in technicals than me... calling @slick, @kates9999, @ mirren, to name just a few.