As I suspected, the short-term rally was a counter-trend rally. Short-term, IMU is headed back down. Overa it remains bearish with the stock chart keeping below the "Cloud".
IMU hit major horizontal resistance on 24 March and pulled back.
Stock chart broke below the Conversion Line on Monday, 28 March. At the same time, Supertrend (1.5/7) switched from yellow to blue. Blue is bearish.
On Thursday, 31 March, IMU broke below the Base Line. A Major support line is near-by.
This may still be consolidation, with the Conversion Line Still above the Base Line.
Longer term, I wouldn't be too keen to add to positions until we see the stock chart above the "Cloud".
Stay safe. Stay patient. There's always plenty of time to hop on a longer term bull rally.
IMUGENE CHART. TA only, page-13541
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Last
4.6¢ |
Change
0.001(2.22%) |
Mkt cap ! $342.1M | |||
| Open | High | Low | Value | Volume |
| 4.5¢ | 4.7¢ | 4.5¢ | $906.2K | 19.67M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 9543864 | 4.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.6¢ | 1266571 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| IMU (ASX) Chart |