IMUGENE CHART. TA only, page-469

That was a strange day, in a good way for IMU. Our close at 0.255 generally would mean following yesterdays DF pattern that the next swing should be down. Normally you could expect a few days at least of retrace, but again, its bee a strange day. Markets copped a bit if a hammering across the board, and yet IMU has held its ground. This is quite significant, because even despite the rest of the markets SH's arent prepared to sell down. Buyers don't want to buy atm because of the rest of the market, leaving us close all but 1 price point below our doji. No idea what will happen for the rest of the week if no news comes, however looking at whats been happening I don't anticipate any bear move gaining wide support, it should be fairly muted and short lived. At present our immediate support is the e21 on the hourly. The 38.2% and the 50% have also both shown signs of buyers lurking. It still feels like it wants to go up to me, in spite of yesterdays doji and today's close on the wrong side, so I'm not prepared to call it either way atm. Having said that, the fib targets from earlier are still in play unless we price under the 61.8 (0.22 or lower)

RSI is similar to MACD in that they work much better in ranging markets and not so good in trending ones. This is why your RSI shows it has been above 70 or 75 or whatever for a month. In trending markets, an RSI over 90 will often give you the biggest up moves, and an RSI under 10 will give you your biggest down moves in a bear trend. If you sell out when your RSI shows overbought in a trending market you will often leave half your profits on the table.

Regarding news: If we are between the two major fibs (0.230 and 0.280) then we are in prime position when it drops. Obviously the higher the better.