This is why I’m taking a punt on Monday with the possible incoming weakness leading from Friday us market close as it co ntinues to consolidate around .015-.016 before potentially kicking up.
in thinking perhaps some decent volume recently on the back of tax loss selling, which is neutral to these people as they buy back their losses unless they are just dumping the sp’s premium to prepare for a future raise in what I think could come off The back of some kind of announcement leading into the imminent soi consolidation.
selling pressure has been extreme and it would seem from a psychological perspective this places imu as a highly contrarian punt. Unless of course everyone commenting on this forum is completely oblivious to some significant elephant in the room that has the potential to command one final flush down, to really catch out traders like me who opportunistically wait for lows like these to scalp a gain out.
if .016 holds I don’t see why this shouldn’t test greater than or equal to .02 if .017 really has been completely flushed. IMO , got floor so far at .015 with really only .0155 available on midpoint trade briefly before .016 buy side stacking followed by first real profit level forming at .017. This”analysis” of mine is super short trading and so anyone participating now on buying the dip, if you didn’t dca your position by 50% at .016, then I warn with caution to chase a move up should it eventuate but that could be out of being too cautiou as I know this company like I know my back sides. Beware position sizing too.
gltah and dyor
IMU Price at posting:
1.7¢ Sentiment: Buy Disclosure: Not Held
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