IMC 1.11% 8.9¢ immuron limited

Hey gang. Been watching this stock for the last 6 months. I took...

  1. 1,899 Posts.
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    Hey gang. Been watching this stock for the last 6 months. I took a position last week. I genuinely think this could x10 from here. You don't find many genuine mispriced stocks out there, but I think this is one of them.

    From a charting perspective, this stocked formed a great base around 9c to 6c for over 18 months, maybe longer. When these bases break upwards, they are often violent.

    We've seen the first 'violent' move up to 16c, I don't think this is the last of the movements. We've had a retrace, which is natural. It came back to normal ranges, on the fib levels and briefly went below the 10EMA. Now it's ready for the next leg up. The chart still looks solid to me. I like the 10 EMA crossing the 20 EMA, which it's done here, and continues to hold.

    Fron a TA perspective. This stock is under priced. You look around at similar biotechs and they have x2-x5 mc of this one. The majority of them have no money in the bank. This stock has money in the bank and looks likely to get funding for phase 3.

    the market cap is a joke. It won't be long before Mr market catches up. If they get non dilutive funding for the next phase of testing, then watch out, as this will fly and finally get a market cap, which it deserves.

 
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Last
8.9¢
Change
-0.001(1.11%)
Mkt cap ! $20.29M
Open High Low Value Volume
9.0¢ 9.0¢ 8.9¢ $1.4K 15.65K

Buyers (Bids)

No. Vol. Price($)
2 119108 8.8¢
 

Sellers (Offers)

Price($) Vol. No.
9.0¢ 99999 1
View Market Depth
Last trade - 16.10pm 07/06/2024 (20 minute delay) ?
Last
8.8¢
  Change
-0.001 ( 2.22 %)
Open High Low Volume
8.8¢ 8.8¢ 8.8¢ 14375
Last updated 13.34pm 07/06/2024 ?
IMC (ASX) Chart
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