When you say "on the week" - I presume you mean "on the weekly chart"?
If that is the case - I can't see that IMU is "bullish" on the weekly chart.
Below is a weekly chart. The best that could be said for it, looking at the chart with EMAs on it, IMU is sideways using the 5-Week EMA. That hardly, in my opinion, suggests a long-term bullish rating.
The 34-Week EMA is sloping down - and IMU is well below the 3-Week EMA.
The 13-Week EMA has gone sideways for the past two weeks, with IMU finishing below the 13-Week EMA. May be - the stock could possibly turn up? But that's speculative. I'd want to see more evidence.
MACD is heading up - but that doesn't make the stock bullish. MACD can often trend inversely to the stock during weak trends. That's a well-known phemomenon of the MACD. That's why it should only be considered in strongly trending markets.
But - thank you for your comment. It made me go back and look at the Weekly Chart. Worth doing.
RB
IMU Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
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