Considering you said you didn't miss the point, it really looks like you missed the point.... Here is an example of a higher time frame version of the point I was trying to get across (it starts from a downtrend). The bull pattern starts from a high, not a low. IMU's pattern starts from a high not a low. It was simply an observation which showed why IMU doesn't match the requirements (technically speaking) for a bear pennant. If you can't see that, then I can't help you, I've tried my best.
That being said, it has broken down now (although hardly any volume so not very convincing), so I guess you were "right"? Wait and see I guess.
https://www.investopedia.com/terms/p/pennant.asp
IMUGENE CHART. TA only, page-24309
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Last
5.7¢ |
Change
0.003(5.56%) |
Mkt cap ! $417.2M | |||
| Open | High | Low | Value | Volume |
| 5.5¢ | 5.8¢ | 5.2¢ | $2.499M | 45.00M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1921794 | 5.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.7¢ | 1368288 | 7 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IMU (ASX) Chart |