Hi guys
Congratulations to all the Long and faithful holders, what a ride it has been the last few weeks, its been a while since I last posted on IMU but I have been following commentary, Great work
@Zior your analysis has been spot on I've been learning a lot from you and greatly appreciate the time and effort put into your posts, the power of those moving averages is quite something to behold!
I was mistaken before in believing 33cents was the ATH as the charting software I had been using didn't provide data back far enough to see the previous highs, so my sincerest apologies for that, although 33 did still prove to be a significant number, I have now moved to Tradingview and having done the rounds trialing many different platforms Tradingview IMO is the best and easiest to use so for anyone new to charting I would highly recommend it.
Many people might be looking at the chart of IMU and saying to themselves. 'WHOA that's gone parabolic!' and could possibly be fearful of taking a position, so I thought I might put 2 charts up the first is a Linear price chart (A linear price scale uses an equal value between price scales providing an equal distance between values) and the second is a Logarithmic ( A logarithmic price scale uses the percentage of change to plot data points, so, the scale prices are not positioned equidistantly.)
When we look at the linear price chart its harder to see the trend.
Below is the Logarithmic chart, now we can see the trend and how beautiful it is, making almost identical wave structures. From this you can now see that this current move is nearly identical in structure to the previous one from 4.5 to 14 and very similar to the one from 1.6 to 6.7.
Take a look at the Volume bars at the bottom and you will see a descending wedge as over time each move has happened on less and less volume as this stock becomes more tightly held, the current move has been more controlled and consistent most likely due to Institutional buying being less impulsive.
So where to now, todays PA saw the SP hit that upper oblique resistance line, the RSI is squeezing up in an ascending wedge in that overbought territory and the closing auction saw a very strong close. If this gaps up tomorrow or runs though that line I believe then you will see the real FOMO kick in as people scramble for the last few available shares on screen.
Alternatively supply arrives with the sophisticated accumulation methods that were used between 10-14 cents. to push this sideways and back test some of those fib's.
It is only looking back on this in hindsight that I now fully understand the game that was being played between 10-14 cents, the shorting and spoofing PA through that descending wedge might not have necessarily accumulated many shares but what it did do was tire and frustrate many holders into selling in the high teens 20's 30's and low 40's, holders that might well have held much tighter had this moved faster on the initial Interim hervaxx results which many of us believe it should've.
IMO the next few days will be pivotal, either we see the beginning of another long drawn out tree shake or they let it run and it really goes parabolic which will likely end with a dump, if the FA really is as good as we all believe then either scenario is just another attempt to get you to let go of your shares.
Congrats again guys and goodluck, I sincerely hope for all cancer suffers that IMU has the answer to their prayers regardless of where the SP goes.
(20min delay)
