IMU 7.89% 20.5¢ imugene limited


  1. 437 Posts.
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    Ok ladies and gents, this is a new thread for Charting and Technical Analysis ONLY, if your looking to go off on a tangent (excuse the pun) or if you simply don't believe in 'reading tea leaves' this isn't the sub to talk about it...the IMU thread has no shortage of subs for FA & general discussion. So I ask respectfully if we could keep this to purely TA and Chart discussion that'd be great.

    I'll get the ball rolling with a few insights into the long term trend and some key support and resistance levels and why I think these are important.

    On the first chart here you'll see some key levels

    Support @ 1.6 cents
    Resistance @ 3.9 cents
    Resistance @ 6.6 cents
    Support @9.5 cents
    Support/Resistance @ 10 cents
    Resistance @ 12 cents
    Resistance @ 14 cents

    There are a few more that I haven't marked on the chart as it would become too crowded
    support @ 2.8 cents
    [email protected] 4.5 cents
    support/[email protected] 5.2 cents

    And 7.5 cents looks like a support zone too forgive me if I've missed any

    Below is the same IMU chart from its trading days back when it was a completely different outfit in 2008/2009

    I have left the horizontal support and resistance lines on the chart and simply scrolled back, what's interesting is the correlation between these levels in the past and today, many people have criticized comparing old charts as the company wasn't the same in those days whilst I agree that's true and there really shouldn't be any correlation, we are forgetting something very key to this equation.

    Who or what are we trading against, the vast majority of trading volume these days is transacted with HFT algorithms the algos are programmed to scan the very data that we are looking at on our charts and they look far back through as much data that is available for the particular instrument and they identify trends with much more speed and accuracy than we mere mortals can.
    Would these Algo's know that IMU was a different entity back then and would that even matter to their programming and is this all a coincidence, you'll have to decide for yourself on that.

    From the historical chart I have established some key levels that could come into play if/when the SP rises to such levels.

    Support/Resistance @18.5-19c
    Support/Resistance @ 22 c
    Resistance @33c
    The Chart below the Fibonachi extension from the last run from 4.5c in late september to13.5-14 cents in November

    Youll notice the 161.8 % extension correlates perfectly to the next resistance level at 19c and is also a 10c move from the recent double bottom of 9.2 cents which matches the flagpole 10 cent rise on the last run. 19 cents resistance level also dates back to 2008.

    Below is a Fib Extension of the whole move from 1.6cents in march 2020 to 14 cents in late November.

    This Fib shows a resistance level at the 161.8% being 22 cents (correlates with a support and resistance level in October 2007)
    and the further and less accurate 261.8% fib at 34.5 cents which is very close to the 33 cents resistance in 2007.

    The Trend is your Friend

    whilst these charts wont tell you what IMU will do tomorrow I do believe they help paint a better picture of how its been trading in what is a quite consistent and predictable pattern over time.
    Having bought shares at 1.6 cents back in July 2019, I was able to understand the squeeze in July 2020 through combining FA and TA and I substantially increased my position just 1 week prior to that breakout, I then recognized the same thing occurring in September 2020 and again increased my position at 5 cents, this was the last time that price was seen.
    I now believe we are witnessing a similar move again and with all the Fundamentals to back it up it seems obvious where this is going.

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Mkt cap ! $905.4M
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19.5¢ 20.5¢ 19.3¢ $1.628M 8.239M

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Last trade - 10.21am 19/04/2021 (20 minute delay) ?
0.015 ( 4.27 %)
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Last updated 10.39am 19/04/2021 (live) ?
IMU (ASX) Chart
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