Tomorrow, Thursday, could be an instructional day in terms of near term pricing and trading.
In early November, we had a similar candle to today, as shown below.
Imu bounced off the median to launch its subsequent run to 15c.
Volumes at that time had been 21-22 mill shares traded for the few days prior to the initial decent jump.
That candle saw volumes of 51mill for the day. See below.
For the past few days , we have traded around/sub 20mill shares. Today that jumped to 46mill. A similar scenario.
Back then we had the Vaxinia early update Ann next day 6/11 and we were off to the races. Volumes came in and by the end of Nov we had topped out at 15c, right around AGM time. (We well remember the artificial price support buy line on that day.)
IF there are follow up Ann in the VERY near term, i suspect we will be off to the races again. Getting those August ODs in the money might be a bridge too far. It would be nice if they were giving it a crack tho.
Otherwise, I suspect we drift back to 5c base camp pending the data flow we have been promised imo.
