imi's coming off its hype driven rally between july-september 2c-7c, share price fib retracements 38.2%,50%,61.8% give s/p levels of 4.9c, 4.3c,3.8c . expect the price to bounce off any of these levels, however stock is still overvalued at any of these prices.
would wait till next quarter sales figures in oct to see if sales are even close to covering costs. expect imi management to come out with many hype driven announcements but as we have seen the last two announcements were sold off.
charting observations, page-9
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