IMUGENE Run Complete?

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

- 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.

- 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.

- 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

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