Notes on the chart!
Why I'm writing: have been a total bull on this stock heretofore, and if you check out my last post was dead on to all the action since ER.
Now feel that growth wave correction is imminent, time to act!
Biggest factors: This stock has been on a tear for some time now, but just recently reached many of the higher price targets and...
What IMGN is to us: a "futures"ish biotech firm that sports a majority institutional ownership
Climate: Lots of drugs in Phase I headed for Phase II. INTL partnership that hints at possible future acquisition. Decent recent earnings, but not really material.
Conspiracy theory + reverse engineering
So computers trade this stock a lot. There are algorithms...
My stops hit today on down swing, looking for re-entry. Have been raking in money on this guy hand over fist.
Stoch RSI dipping into "buy" territory --> seems to be a reliable indicator of a reversal
RSI will likely test the 55ish line to decide whether to keep on upper BB walk
Doesn't look to me based on volume like we need to fill the gap from earnings further,...
Lots going on with this stock, but I think we are at a prime time to buy for any bulls out there.
Following a cycle of lows on the 8th of the month and highs near the 27th of the month
Support at 2.92, resistance at the 200DMA
While subtle, range contraction with RSI and MACD targeting this time period to break out
Fib verticals show downturn at each new...
Seems to be following this pattern so far - always in lock step with CAR. Downward channel that ultimately is going to cause a decision point around 5/22.
Have been reading and learning and taking it all in - anyone have any feedback on this read?
Wrong wave? Wrong application? Channel not related?
Appreciate any criticism, clarification, or otherwise!
