IMUGENE CHART. TA only, page-179

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Zior

1,390 Posts.

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21/04/21

09:54

Post #: 52611956
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Originally posted by Zior: ↑

As per scenario 1, if we don't close above 19.5 today then the Nov long term fib move has completed. We will be on a double top and will likely be bound in a range for some consolidation and distribution in the 16ish - 19.5 range until 1st week of May when final cohort results should be announced or until cf33 IND drops - whichever is sooner. The Green w5 and yellow e21 do not like to remain separate for long, and it is easier for the green to come back to the yellow than the yellow to come up to the green. Daily shown below

If we happen to close above 19.5 today, then we need to see the price stay above and bounce off it as support as per scenario 2 over the next week or so. We can then push for 23c followed by 28c. In our favour is the hourly chart which shows we have a good chance at another attempt to close above 19.5 today with the green w5 showing a likely bounce off the yellow e22. I hope this is the scenario that plays out, it will put us in very nice technical position for when they fundamentals drop early May. Hourly shown below:

Previous scescenario snapshot:

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News can change everything folks, let's see if we can close above the key level 19.5 today. If so then we are looking for that bounc off 19.5 as new support. If not then nothing changes and we will likely be range bound for a little while. This is great timing for a positive announcement.

IMU Price at posting: 18.5¢ Sentiment: Hold Disclosure: Held
18 Upvote

0 Great analysis

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