Monday, July 31, 2017 11:50:14 PM
INMG 2 month daily chart
if one were to expand this chart out to the last 4 months, one would see a flag with a two week run up a pole from .0016 to .032, followed by a two week pullback to the .01 area. from there this has been churning in a low volume consolidation mode -- it has not had a day as big as 20M since early May -- and, as seen in the form of a series of cups, small valleys with low walls, its a long reaching sideways channel that measures nearly three months. the trend, however, is on the upside. and with the curling upward of the 20ma towards the 50ma, this could be setting up to make another move.
at present, its in a holding pattern, trading tight. the volume -- its 5 and 20 day average is a little over 3M -- is not enough to bust this out one way or the other. right now the 5ma has dropped under the 10ma, and the momentum indicators have gone flat. though there's pressure on the ask, its not strong pressure and the stos and williams have tended closer towards oversold then overbought. that means that there are still shares available here, and this is confirmed by the distribution indicators. all of which, given the stability of the trading, makes this a place to quietly accumulate in anticipation of a coming breakout. but that requires spare money, money both to hold and to buy; and that's prolly why its selling off in small doses; not everyone can afford to continually buy and go long. its also hard to hold when you're struggling to stay liquid. obviously, money management matters.
sans volume, i look for this to continue to slide sideways with the 100ma just under .009 representing support. should volume come in, i look for a test of the resistance running from .0105 to .011, and breaking that a retest of the recent high of .014. from there this could test .017-.02.
this prolly needs a 20M share day. perhaps one will come soon.
if one were to expand this chart out to the last 4 months, one would see a flag with a two week run up a pole from .0016 to .032, followed by a two week pullback to the .01 area. from there this has been churning in a low volume consolidation mode -- it has not had a day as big as 20M since early May -- and, as seen in the form of a series of cups, small valleys with low walls, its a long reaching sideways channel that measures nearly three months. the trend, however, is on the upside. and with the curling upward of the 20ma towards the 50ma, this could be setting up to make another move.
at present, its in a holding pattern, trading tight. the volume -- its 5 and 20 day average is a little over 3M -- is not enough to bust this out one way or the other. right now the 5ma has dropped under the 10ma, and the momentum indicators have gone flat. though there's pressure on the ask, its not strong pressure and the stos and williams have tended closer towards oversold then overbought. that means that there are still shares available here, and this is confirmed by the distribution indicators. all of which, given the stability of the trading, makes this a place to quietly accumulate in anticipation of a coming breakout. but that requires spare money, money both to hold and to buy; and that's prolly why its selling off in small doses; not everyone can afford to continually buy and go long. its also hard to hold when you're struggling to stay liquid. obviously, money management matters.
sans volume, i look for this to continue to slide sideways with the 100ma just under .009 representing support. should volume come in, i look for a test of the resistance running from .0105 to .011, and breaking that a retest of the recent high of .014. from there this could test .017-.02.
this prolly needs a 20M share day. perhaps one will come soon.
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