In essence yes, the momentum for today coupled with the below measures gives me some confidence of a positive move today.
I normally look for entry when a few things lines up:
1. 50 - 80 band of the RSI
2. above the 8 Day SMA
3. MACD must be positive on building volume.
I also check this against my 20,40 & 70 period TEMA's to confirm.
RSI shows me the momentum of bidding. When we touch 70, with positive MACD and a SAM that has crossed, I would expect to see positive movement. I would agree anywhere above 50 is good, but I like to see a bit more skin in the game on the bidding side before I get into it.
IMUGENE CHART. TA only, page-4300
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Last
6.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $490.4M | |||
| Open | High | Low | Value | Volume |
| 6.8¢ | 6.9¢ | 6.6¢ | $647.9K | 9.625M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 309078 | 6.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.8¢ | 759722 | 11 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
6.7¢ |
Change
0.000 ( 0.15 %) |
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| Open | High | Low | Volume | ||
| 6.8¢ | 6.9¢ | 6.6¢ | 3602017 | ||
| Last updated 15.57pm 31/05/2024 ? | |||||
| IMU (ASX) Chart |