Prior analysis here.Slick is correct regarding bodies for trend...

Prior analysis here.

Slick is correct regarding bodies for trend lines. It took a while, but it's nice to see the adoption of trend lines placed on the bodies rather than wicks. I recall pointing this out a few years ago and getting roasted for it. Interesting read here.

If you would like to know why using bodies is superior to wicks, you can read my reasons here.

As for the week that was, it was a pretty boring one. I think a good way to view this week is kind of like thinking about Imugene's announcements. They've all been good, but generally speaking they tick boxes rather than being something that we are eager to see. This week is just that, nothing exciting but ticking off the technical boxes en'route to a decent move. For example, if you just look at the daily chart below, you could easily be forgiven for thinking it's done nothing, it's just gone sideways.

But now if we look at exactly the same chart with the Moving averages on it, you can see the upward pressure the last couple of weeks has continued to increase.

This is just one of the reasons why we can be confident that the present technical picture is positive.

So far, this analysis series is proving spot on, and I am extremely happy to see Imugene return to a normal technical environment.

Monthly
Keep in mind the yellow e21 is throwing its weight for the bears at present. It comes in about 0.13 atm and we can expect some resistance when we tag it. So far it has we repulsing the price at distance but the flatter it gets the less weight it will hold. Once we cross over it and bounce off it, it's strength will lend for bull support. I do like the monthly candle opening on the 10c, adds plenty of weight to it being the base (excluding intra day spikes if we get them. Unlikely imo)


Weekly

Its only 1 new candle since the prior analysis linked above, however this candle does confirm there is some underlying strength waiting to show its form. This is due to the ongoing bounce off the 10c level. We also closed on the overhead resistance at 0.115. Closing on resistance can be considered bullish, however keep in mind the above information on how price behaves at the end of a candle. This bounce (pink) off 10c though (and even the weekly e21 yellow) is exactly what we want to see; strong Bull runs typically come following successful retests of support.


Daily

The blue e100 is slowly edging its way closer to crossing the red e200. When it does, I would expect to see the green w5 dip down to meet this crossover before beginning the main move of this high probability signal. Be sure though, that this blue e100 crossing over the red e200 on the daily chart is a big deal when confirmed with the smaller MA's. This indicates there is a high probability Bull run about to start. I'm sick of pointing out that it's a daily time frame so it can still take weeks to begin, but if I don't all the Muppets cry that it's wrong because it didn't happen instantly. Muppets aside, the upside of this time frame is that a signal of this magnitude can initiate a bull run that will last months. Bullish divergence and dragonfly doji are all positives that continue to add weight to my argument of an impending bull run. We've closed the day(week) on the resistance - we want to see a pop above it (see green) early next week, stay above(closes) for a couple of days and then tag it again as new support at the end of the week (or whenever). If it bounces we can try tackle that monthly e21 at 0.13 and look to close out our first swing trade at 0.15. Note daily bear signal warning in prior analysis linked above


Overall - a pretty boring week, but a necessary one. End of February is approaching and this is generally when I personally expect to start seeing some thin heat up. Enjoy the weekend, I'll update when something interesting happens.

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Open | Win | Loss

1. 29/11 Position trade #1 [ In 0.085-0.09 || TP 0.22 || SL 0.077 ] RR=1:10
2. 25/01 Swing trade #1 [In1 0.105, In2 0.096 || TP 0.145-0.150 || SL 0.094] RR=1:7.6

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Initial analysis here (29/11)

Update #1 here (08/12)

Update #2 here (23/12)

Interim update (18/01)

Update #3 here (19/01)
Interim update (25/01)

Update #4 here (09/02)