@oxxa23 Hi Oxxa, Firstly thankyou for your effort on the IMU media thread, saves me so much time, which I don't have much off. Fortunately I have a slow day at work so I thought I would repay your effort with some analysis.
My Disclaimer is I have no idea what PAR is or does, nor am I interested. I am not invested either way, so I have no bias. I will just post what I see. This is entirely technical, there is no fundamental consideration at all given. I don't have time to do Elliot wave analysis sorry.
Weekly Chart: Fibs are Key support and resistance levels. Taken from bull run starting Mar/April 2018. You can see the levels are respected validating its position at
A and its circles. If at any point the resistance at $3.20ish is breached and hols under a retest, this will give a firm base for the move to retest the highs of $4.50 as Show with
B . 23.6% fib is not a strong fib, however any fib on a weekly chart needs to be respected. The lower it goes, the harder it will be to break through. The 50% was held even at distance, the 61.8 would be even stronger. It should be pointed out that a Fib trade on this cycle has a target of the highs at $4.50 due to the initial retracement to the 78.6
Daily Chart
This chart has the strongest move indication I like to see on any chart shown at
A. Any time the 100ema is repulsed by the 200ema and the other MA's are under it, you can expect a massive bull run to follow. This has not yet happened. What has happened is 2 more repulsions at
B. This alone tells me it is primed to explode to the upside given the right catalyst and time. On a much weaker note, there is some bearish divergence seen at
C, however it follows some bullish divergence as well at
D, so in the short term this could drift a little lower before moving up again. If I was in this stock, and not taking any notice of the fundamentals, I would rather be in than out. That signal at A is intense. The Moving Averages at current price are also diverging which indicates a move higher. The Fibs of the recent move up from $1.10 to $3.90 and the retrace to the 50%-61.8% zone shown near D give a 161.8% price target that actually comes in at $5.58, if it gets through the highs. This fits in with the strength of the signal of A.
1 hour
There is that beautiful pattern again, the strongest in my book. It gives an idea of what can follow, however I would suggest this is either somewhat muted, perhaps due to fundamentals, or it has not yet done its final run. The MAs at the current time - B, indicate to me that this is about to pop higher. If this happens on increasing volume then it could have some good legs up. I wouldn't be surprised to see this test the recent highs of $3.18 late this week or next week.
Hope it goes well for you all.
(20min delay)