Good pickup @PabloHC, I think you could be on the money with...

Good pickup @PabloHC, I think you could be on the money with this Elliot Wave observation. In my view this would suggest completion of the 5-count impulse wave as a fractal (or sub-wave) of count-1 in the next scale impulse wave, with the current A-B-C corrective wave being count-2 in the next scale impulse wave.

If the IMU price trend follows Elliot Wave theory, then it should progress through a 5-count impulse wave on the next (grander) scale. If this plays out accordingly, then hang on for count-3 in this next scale impulse wave, as count-3 is typically the strongest WRT to volume and price. This could potentially mark new highs for the IMU share price upon completion of count-3, before the next A-B-C corrective sub-wave, which would be count-4 in this next scale impulse wave. The ensuing count-5 in this next scale impulse wave could potentially and very likely exceed the previous count-3 highs.


Some background info on Fractals and Elliot Wave Theory, for those interested....

'With Elliott Wave, fractals prove to be the building blocks for forecasting market price fluctuations. Ralph Elliott discovered fractals that were better and more useful than those of chaos and math theories. They came in a limited number of particular patterns. The Elliott Wave fractals came as five wave impulses that were finally followed up by three wave correction patterns. Because these fractals repeat on every scale with some variance, they are useful for predicting trends and future price movements of markets. This is what gives the Elliott Wave Principle its ability to forecast prices. Fractals are key to this because they are the ending and beginning marks in individual Elliott Waves.'

Courtesy of Wesley Crowder - Using Counting Fractals to Find Elliott Waves | Elliott Wave Review
More info here: What Are Elliott Wave Theory’s Waves Within Waves About? | Elliott Wave Review