IMUGENE CHART. TA only, page-3470

Evening all

Noticed the volume has started to die off here, not much has changed since I last posted one of my longer term charts, It would appear we are in an ABC correction after what was a massive wave 5, In the absence of Major News its going to be a struggle for this to maintain itself above that green sloping support which is the bottom of Hoots pennant/ golf club or whatever we are calling it.

Expected news flow would be FDA approval for CF33 which could create a push up to test that 39-42 zone making wave B but with the inherent risk of phase 1 drug trials and some trapped holders from higher levels the SP may struggle to break over those resistance levels on that news alone. Then there is the Hervaxx phase 2 results and PD1 phase 1 results, but I'm not sure if these have been priced in by the market already they might need to be over and above what we have already seen from the interim results to get the price moving again dramatically??
With all that in mind I am sitting on the fence with this and expecting it to move sideways for a while, the Major support Zone that I believe will absolutely hold is 23-26cents so if 29.5 fails I just don't see it getting any lower than 26 and if it does it will be a spring with a lot of volume as buyers rush in and send it back up in the same session.

If this moves as I have illustrated on my chart then September should see a touch on the major slope support of this expanding diagonal.

What drives the SP from there...maybe safety and efficacy readouts from cf33 ph1??

Ofcourse this is just my opinion and happy to be proven wrong in time, hopefully we get a licensing/partnership deal or T/O offer and we can all throw the charts out of the window.

BTW that wave 5 is not a prediction, just threw it anywhere...would be nice though