Hi Footy, my answer to your question is going to sound strange when you think of what I do but basically there is very little trading attraction here currently much to my disappointment.
So picture this. You’re an astute trader experienced in the ASX and follow things closely. You briefly see that the BIO sector has been punched around the ring for a while now and you’re thinking that there are some BIO stocks that will move very well when things turn around. You quickly do a scan of Aussie BIO’s and IMU hit your screen. But what flashes up on your screen is the MC, the SP and then you nearly fall from your chair when you see the SOI. The only thing that might keep you looking is when you check out the daily and see the condition of the chart and realise that this might be one of the big recovery potentials. But you certainly wouldn’t consider an entry currently.
Now that review might be a little fanciful but it’s basically true and I’d love to get @bustermove18 or @FreedomInvestor ‘s thoughts on this.
IMO currently you’re only seeing churn from the MM’s and Instos adjusting their positions. The SP is now loose change for them so they can make volumes work for them either way. There really is very little trading of it going on. IMO.
Hope I’ve answered what you were asking.
Cheers.
PS, certainly not financial advice.
IMU Price at posting:
12.5¢ Sentiment: None Disclosure: Held
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