Hi Folks Haven't posted for a while for a number of reasons. There are two main reasons why, the first being that I just cant be bothered reading through all this rubbish. So many muppets and fake posters around this thread has turned into the mire of HC. In addition so many people without a clue thinking they know whats happening. Sadly these boards have fallen even further than our share price. The second main reason is that I primarily do my analysis and posts for my benefit, I find it interesting and exciting in bull runs, but in particular I'm interested when looking for levels to sell. The evidence being the crescendo of analysis leading up to oB's conversion date I took a minor portion off to convert and fund my 7 week honeymoon at 0.56 as many would recall. In my last few posts at that time, I recall highlighting the need to pay attention to the macro fundamentals and expressed that a pullback from the highs (My tech target at the 0.65 zone was not hit) once the target was hit. While I was away enjoying the bush, the world melted down with macro bear news one after the other. When I returned, the price was approaching the statistically high technical turn around levels between the 50% and the 61.8% around 0.25. These held for a while but the macro fundamentals were too strong for them. Most of those who have followed my analysis are blind if they do not see that I am all for IMU and a bull in my analysis. I rarely post in bear runs for one simple reason. I just don't care. I'm not trading day to day, I'm here for the end game not all the noise in the middle. Imugene's Fundamental story continues to get stronger and stronger and the disconnect between this picture and the share price is enormous. For those who see it, like Davy, Ben, TB, Microcap & The Proffesor and the like, their reward will be just as enormous. For those who cant see the forest for the trees, for the pessimists who wince that the company hasn't followed their expectation and assumptions like fourdollars, they will continue to hand over their shares to the more patient. Their Risk appetite may be smaller, they may have made some coin for their pocket now, (and well done to them if that is their investment approach) however their endgame rewards will be considerably smaller should Imugene continue on its current trajectory. I am in the former group, and so I just don't care when the share price takes a slump. Like everyone I don't want to see it down of course, but my belief is that it is a temporary state.
My exposure to IMU has not shrunk throughout this bear market. I hold the same amount of shares and options now as I did when I finished sold in Nov. I may sell a few more in the next couple of months, because I happily hold a heap of C's that will need some love before Nov, but baring any unforeseen circumstances I continue and will continue to hold for IMU's end game, or for the [company] Fundamental story to change.
I can count on one hand the amount of times I've looked at the charts over the last few months, and only for a passing glance. So lets have a look and see where we are at. As always, this is for the long term picture and as always, Fundamentals, both Macro and company will take priority over any future looking commentary.
Monthly There isn't a great deal to see here, April's volume was quite low but that may not mean anything in particular. There is strong monthly support around 0. 125. It would be pretty disappointing to see it go that low though. to the upside, that 0.245 zone of the 61.8% Fib is now backed up by the monthly e21. This is a pretty hefty resistance that will unlikely be broken by technical activity alone. Fortunately, we've got 6 months of positive news flow to catch up on should the macro bulls decide to change gears so who can say. Weekly We are currently sitting on the e200 (solid red) which is our current support. The s200 (dotted red) sitting under it at 0.130 is a stronger support/resistance than the e. I wouldn't be surprised to see us oscillate around the e200 intra-week and close close to it on Friday(s) for as long as we are in the general area while the market works out how inflation correlates to covid in Moscow. We are a long way off from even going on standby for a MA signal here, however there are signs of a rounding out beginning. The most recent leg[2] of the w5 (green) is shallower than the first leg[1]. The first bounce[3] of the w5 off the e21(yellow) is often at a distance, allowing the 2nd bounce to come closer. Price has not touched the e21 for some time, and they are magnetic to each other so that should happen in coming weeks. A doji candle this week and last weeks[4] candle could be a natural bull signal (Read: to slow down the bears, not to rally the price) Also to that our long term fib is still in play, you can see how the bulls were ready to go when it touched the 61.8% fib (purple) Daily Similarly, the daily is showing signs of a potential rounding out, obviously as a faster timeframe than the weekly it is more visible here. w5 is nice and rounded, and the other MA's are losing slope. The green w5 had a crack at getting back above the e21 when we bounced off th 61.8% fib but couldn't sustain it. Perhaps the next attempt will set the bottom.
I'm not going into too much Tech analysis, its my opinion that in general we are in a very broad fundamental move that takes precedence. It is also my opinion that generally speaking we are in the end game of this IMU bear run. Any indications of commercial activity and all will see how compressed this spring really has been. When that time comes - I told you so.
IMU Price at posting:
17.3¢ Sentiment: Buy Disclosure: Held
(20min delay)