INMG (thread links back to chart)
when the 1.2M share trade came pre-market, this had the feel of a stock wanting to break out. it got out of the box quickly, tested the .014 area -- actually got to .0145 -- but then it petered out and settled in to testing the new support at .011. that, btw, is the 10ma. ordinarily that would have been a technical test in a breakout, but this hasn't yet broken out. the moving averages are not yet in line. but they will be soon. the 5ma could (or should) cross over the 10ma tomorrow, signifying an upmove, and the 20ma will do the same to the 50ma sometime next week. that crossing will align ALL the moving averages, 5/10/20/50/100/200, from fastest to slowest. at that point this will be primed for a bigger move.
as always, breakout is on the bid side. this must take out and hold above .014 on the bid.
in the meantime, chart and logs say there's still some selling going on, and that should be just fine with the buyers. this is a stock primarily bought on the bid, rather than the ask. its an accumulators play. but those kind take time, and they only work when there's some form of liquidity, which usually takes the form of dilution. dilution, btw, is not necessarily the issuance of new shares. it can also be matter of the available float having gotten larger. traders trade, and, in a game where profit and money management matter, retailers are just as quick to sell as anybody else. in any case, the size or thickness of a float can generally be measured in the amount of shares it takes to move a stock. considering the way this has slowly trended upwards on no more than 5-10M shares a day, it appears that what is most lacking here is simply breakout volume.
i'm waiting for one of those 20-40M share days to bust this out.
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