Very nice... your 19.5 target matches a bullish flag pole formation that appears to be setting up . The pole is already in place, measuring from 6.5 to 14, = 7.5 The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls continue to snap up any shares they can get.
The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. If the breakout point is 12.5 , add 7.5 =. 20
IMU Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
