Yes, it is fib retracement. It is my understanding you can use this tool to predict the support + resistance of a stock while it is in retracement phase (and vice versa, which is what I have done from the cup & handle timeframe).
If you see my scribbles, I have drawn the fib the other way around to project IMU's possible top which it perfectly hits at 1.618 @ 0.725c (Roth's price target). You are right with Golden Ratio should be higher that is 1.618, and as i have said above because I have drawn my chart in the other direction... so 0.382 (at $0.36) would be the golden ratio for support level in my case. As long as we do not close below $0.36, I will still be bullish about IMU. A firm close below $0.35 for 2 consecutive days will make me worried about the next SP target which could be $0.28 that some bears been calling for already. I am not perfect, and I could be wrong. So happy if any wise men out here can correct me if you wish to.
For now, my conviction is I am still bullish on IMU and remember... time is our friend when it comes to biotech trials. It is a painful period to see your profit shrinks or hold on a loss, but remember patience is critical when it comes to investing. Go back to the fundamentals when you start to doubt your investment, and ask yourself again why did you invest into IMU in the first place... unless you jumped into IMU without any research (I called it gambling blindly).
IMU Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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