Imugene (ASX:IMU) is a clinical stage immuno-oncology company developing a range of new treatments that seek to activate the immune system of cancer patients to identify and eradicate tumors.
3 Scenarios identified
Bullish:
- MACD still Bullish
- Volume increasing
- RSI still trending Bullish although currently Overbought
- Bullish bounce off .382 Fib Retracement
Bullish price action continues and breaks Daily Resistance. Higher targets can be identifed by use of Trend Based Fib Extension.
Consolidation:
- Double Top off Daily Resistance
- MACD Weakening
- RSI Overbought
After a great run price could consolidate underneath Daily Resistance for a short time, which could build a potential Bullish/Bearish Pattern. Im looking at the .382 Fib Retracement as the next level of Major Resistance.
Bearish:
- MACD Weakening
- RSI Overbought
- Fractal Pattern Completed
- Double Top off Daily Resistance
If the Fib Retracement level 0.382 fails as support look for the Golden Pocket 0.5-0.618
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
3 Scenarios identified
Bullish:
- MACD still Bullish
- Volume increasing
- RSI still trending Bullish although currently Overbought
- Bullish bounce off .382 Fib Retracement
Bullish price action continues and breaks Daily Resistance. Higher targets can be identifed by use of Trend Based Fib Extension.
Consolidation:
- Double Top off Daily Resistance
- MACD Weakening
- RSI Overbought
After a great run price could consolidate underneath Daily Resistance for a short time, which could build a potential Bullish/Bearish Pattern. Im looking at the .382 Fib Retracement as the next level of Major Resistance.
Bearish:
- MACD Weakening
- RSI Overbought
- Fractal Pattern Completed
- Double Top off Daily Resistance
If the Fib Retracement level 0.382 fails as support look for the Golden Pocket 0.5-0.618
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."