Studying IMA chart will show that it trades in bandwidths (BW). The change of BW up or down coming from a definative ann or market event.
From Nov - Jan bandwidth was 1.8 to 2.0 A "significant" ann then sent the BW to 2.5 - 2.7 (There was a jump out of the BW in mid Feb but did not hold) until the "correction on 28 Feb which sent the SP down to BW 2.2 -2.5 where it sits today.
Reasonably then we can expect this SP to trade within this BW until the next ann or event. With the known resources, drilling program and takeover/JV speculation it is reasonable (but not certain) that the next jump will be up not down.
So trading within the current bandwidth suggest buying at 2.20-2.30 and selling or holding at 2.40- 2.50.
This is reason why at the end of the day/week when the SP is low in the BW I and other Image followers top up.
It may answer your question?
IMA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
