This is what Slick was referring to about the sp being outside the lower Bollie . Daily below. Historically this has been a safe re entry point from a trading pov for IMU. (Sadly I am out of ammo.) The charts above from he and Hoots are extremely instructive.
We have also seen the volume we have been looking for. Sadly, it is red volume not green. When you look at Hoots simple chart, the 61.8 retrace is a simple explanation. 61.8 is a very strong fib.
Having thought about this, I would also like to address the spat between Slick and Zior. Non industry retail punters like me may be confused. How can 2 elite chartists have such different views looking at the same chart?
Slick is a very successful trader, who operates on shorter timelines for in and out trades. IMU is a highly liquid stock. He has some great indicators that work for him and selflesssly drops knowledge here to assist others.
Zior works on longer timelines with more of an investment mindset based on a longer term TA framework.
Fwiw, i have benefitted from the contributions of both…..
IMU Price at posting:
8.3¢ Sentiment: None Disclosure: Held
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