But what would your charts suggest if someone today wipes the...

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Steini

11,963 Posts.

3635

05/04/24

12:34

Post #: 73205758
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Originally posted by Zior: ↑

How does one see what the market is doing when it appears to be stagnant? The very simple answer is moving averages. While things appear to be dormant here at Imugene, don't be fooled by the thought that 'nothing is happening'.

For those who think 'one can't possibly have a clue what is going to happen' , save yourself some time and skip this post - it's not for you. The truth is that comment is highly accurate in your own case.

For those who are interested in what the high probability outcomes are for the current situation, take a look below. This is just a brief post because not a great deal has changed, so my last analysis update (and all prior comments: see bottom of that post) is still very much on point.

Weekly
We are in the process of bouncing off our bottom support - the yellow e21. Perfect position to be in for a news release (unless it's negative which is very unlikely at this point) expect to see the price move up from this level as this pull-back is quite tired now. A nice little close this afternoon would confirm that doji last week as a reversal.

Daily
Those two MA's are annoyingly close and slow, the blue 100 and the red 200. Once they cross then we should be on our way - this is the main technical event on this chart. The cross over will be the unshackeling that will get us to 0.22 and beyond. 15c is highly probable from here regardless of news or not. Once that 22c target became official, that interim target of 15c was locked in. That's why I've had the confidence of a break up since Nov and have never wavered from to no, despite the criticism of people who should know better. At present, while we wait for that crossover we are looking at a nice little bullish divergence which should help push the price along in coming sessions.

I'm tipping a good week next week based on technicals, with positive news it could be a great one!

Expand

But what would your charts suggest if someone today wipes the 10c line and drives the sp into the 9c and it closes there? Wouldn't that throw all the above out of the window?

Assuming your above predictions are correct and assuming that a lot of chartists see the same scenario unfolding, wouldn't those ones buy today or will everyone wait for the crossing and then buy like crazy? It is like being told you will get rich if you hold before the breakout after the crossing but you will miss it when waiting for that line crossing day? Or, you see an obstacle in the distance but aim for it instead of avoiding it.

Zior, I completely understand the mathematics the charts are based on but they only work if the majority of traders / investors cares about it and follows them. And that, quite frankly, I doubt. Or do you have some statistics showing what % is actually following them?

We all want the sp to climb, but I hardly doubt coloured lines crossing will be the trigger, especially when correctly displaying the past but only be able to predict the future. Let's hope your charts will motivate the chart users to buy up in droves, but I am getting ready for a dump as well.

GLTA

IMU Price at posting: 10.3¢ Sentiment: Buy Disclosure: Held
9 Upvote

0 Great analysis

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