Hi Raff,I did not expect to see 0.081 today, or ever actually. It is the strongest support we have as the 61.8%. If it fails to hold then the 22c fib target is cancelled and it becomes 15c (Any retrace greater than 61.8 but less than 100% is a 0.00% target). Anf if it fails to hold then there is little technicals to prop up the price underneath. In the absence of fundamental adjustment I would have expected to be heading the other way towards 15 & 22. I don't see how fompanynews this week, or updated results last week would cause such a move.
From what I've seen, most biotecs across the board have taken a beating, if not stocks in general. So I suspect that US inflation worries, Iran and possibly even Sydney's issues are all playing their part in a worsening fundamental outlook from macro perspective. If inflation concerns continue to slide or if Iran/Israel escalate then this will likely not pass quickly. If these issues calm down and the markets move past the worry then the dip should be short lived. Unfortunately, any move, up or down is going to be magnified due to Imugene having been in such a long range.
If the heads
ptions price ratio improves significantly as we drop, I may be inclined to do what I did with the A's and B's - exchange some for meaningfully more exposure (and more risk). Only problem is the lack of liquidity on the options.
(20min delay)