IMC 3.85% 7.5¢ immuron limited

I have again reviewed this stock because of feedback negatively...

  1. 269 Posts.
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    I have again reviewed this stock because of feedback negatively commenting on my prediction of $1.10 before the end of the year.
    Important to note is the current contraction of the Bollinger Bands; a squeeze precedes an explosive burst. This breakdown will likely occur in the next 2-6 weeks.
    I reviewed the price action over 5 years. SP reached a high of 70c retraced to 14c (Elliot wave A) before returning to 70c (Elliot wave B) in 2017 and then went on a sharp decline to 14c (Elliot wave C). Since then we have had a new wave (3) begin in March 2017 from 14c to 60c, a 61.8% retracement (60-14=46 (46 X 61.8 = 28.5) to 28.5 and now we are starting a wave III of wave 3, a very bullish impulse wave where the success of this business will be readily understood with clear supporting fundamentals.

    In this current wave (3) sub wave 1 was a gain of 46c. 46 X 1.618 = 74.5. From the low of 28.5 add 74.5 = $1.03.
    Wave 1 achieved 56c (70 - 14) therefore 56 X 1.618 = 90.5. 28.5 + 90.5 = $1.19.

    For those who cannot follow the details, look for a minimum of $1.03 or more likely $1.19 in the next few months.
    One more thing, previous corrections have been savage. By the rule of alternation the next correction will be shallow. In short: if you miss this ship before it sails you will not be getting on board anywhere near current prices.
 
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Last
7.5¢
Change
-0.003(3.85%)
Mkt cap ! $17.18M
Open High Low Value Volume
7.7¢ 7.7¢ 7.5¢ $5.59K 73.54K

Buyers (Bids)

No. Vol. Price($)
2 16083 7.5¢
 

Sellers (Offers)

Price($) Vol. No.
7.6¢ 6857 1
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Last trade - 15.31pm 05/11/2024 (20 minute delay) ?
IMC (ASX) Chart
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