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IMD - Imdex Limited

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in the chart where i do a "count" on the leg that has led to a double bottom (unconfirmed) i have shown that there is a case for that construction to be a valid first leg up, so, for that idea to fall apart price merely has to be 1c below the double bottom and it contextualises that construct as part of the overall overlapping chop south, this at least gives a clean risk level that is as close as one can ask for

so if we were to consider a buy at the open, our risk, based on the previous close, is the best you can ask for without hedging
Many thanks mate for the updates.
 

Joules MM1

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with the breakdown to minimum level price can travel and maintain the bullish view, that gap below is looking attractive, it would need to display a flattening (at worse) or inclining (preferred) money flow 13week basis, the downchannel remains firmly intact, PM's are on a downhill slope in the background so that sentiment is not helping the bullish case, fair enough to guess that in a perfect storm a low swing in PM's + a close of the gap + a break of the channel roof would be the cue to look at this vehicle as oversold if we treat all fundamental aspects as being equal to discount(ed) opportunity

#patiencerequired

i have always disregarded triple bottoms, that is, an exact price that occurs, in the same direction, 3 times to the cent where that triple bottom can be called a significant swing, i've never seen that eventuate into a rotation to a new trend (to the cent!) - decision to exit on a .925 break is a fair call if the idea that the difference in available script at .925 versus .810 (+/-) would both save capital and allow "breathing" time to re-evaluate ..it is a considerable % difference, may not happen, but, given this weeks action and the ongoing structure of current trend - worth considering

the RSI is now pointing to a secondary divergent higher low - upon a third higher low with a lower low in the daily price we can consider that 3rd HL (if it prints) a decent prompt to look deeper inside the lower timeframes for additional RSI cues to avoid daily false positives

keep in mind price can over-swing thru fundamental value for a stock that has built up negative sentiment, still, requires the answer to the question of who is buying all that selling, when does the price become burglary to bargain ?

a single whack-a-mole day can rotate trend, some volatility is required to show an aggressive move by deep pockets to get in while weak money flees, thus far that's not apparent

https://www.aussiestockforums.com/attachments/imd-daily-ratios-rsi-070419-png.93606/

https://www.aussiestockforums.com/attachments/imd-houry-ideas-070419-png.93605/

#chatty2cworth
 
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Thanks for the info Joules, I obviously jumped in too early 99c, so hopefully I don't get burnt. Having said that the balance sheet and business model appears pretty resilient, so here is hoping.
 

Joules MM1

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another way to look at this, if you were short the stock this would be the biggest fattest reason to cover

not a top presentation of the point, but, look at the bottom panel, the 15minute, 60minute and current unfinished daily are in agreement

IMD rsi signals 160419.png
 

Joules MM1

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in the "swings to beat" represent most recent levels that the current bounce needs to take out to eliminate the same downside structure, take those and resistance diminishes substantially

2c
 

Joules MM1

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breaking the cited 1.047's while not a pattern break-out it is a ratio break-out (meaning you've exceeded previous price swings that brought in sellers

we need to see price close above 1.047's

edit: we should also see a change on how the stock transacts as the short-term swings that allowed the stock to be used as a liquidity vehicle for day traders has become (?) a longerterm/investment vehicle .....again...
we should expect to see commensurate 13week money flow travel thru and print above zero line
www.incrediblecharts.com
 
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Joules MM1

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.990's thru 1.010's should get protected, maybe a cup n handle thing will print, impulsive pattern today

very bully signals
 

Joules MM1

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that 13week attempted to lifted yet held out below zero and did not tick up on a major bid session, did not put the final tick in the buy box, we go back to protecting 99c level, currently that suggests the gap open below is likely to be filled before a new rotation north can commence

of course, it's purely one persons technical ideas
 
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A couple of big buyers jumping in, Morgan Stanley and FMR, hopefully they know something I don't.
 
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A couple of big buyers jumping in, Morgan Stanley and FMR, hopefully they know something I don't.
You may laugh but tonight I just drove pass the IMD office in Balcatta road. Nothing exciting. Still the same. :) But tomorrow ASX who knows? Already 4.29% up today. DNH
 
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You may laugh but tonight I just drove pass the IMD office in Balcatta road. Nothing exciting. Still the same. :) But tomorrow ASX who knows? Already 4.29% up today. DNH
I used to jog past their place, when it was across the road from the wool scourer in Jandakot, they have come a long way since then.
 
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I used to jog past their place, when it was across the road from the wool scourer in Jandakot, they have come a long way since then.
Now their office in Balcatta - north of the river. May be North of River will bring them some better values:)
DNH
 
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The IMD price has been in an ugly corrective pattern for over one year. Price is now going sideways with clear resistance at 1.10. It may need more time before breaking out, perhaps another test at the 1.00 level. If that holds, it'll be another HL and even more bullish.

imd200619.PNG
 
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The IMD price has been in an ugly corrective pattern for over one year. Price is now going sideways with clear resistance at 1.10. It may need more time before breaking out, perhaps another test at the 1.00 level. If that holds, it'll be another HL and even more bullish.

I don't know what you did Peter, but the price has jumped 10% in the last couple of days, it would be nice if it keeps running. lol
It has broken the $1.10 resistance line, at last, I wonder if there is a takeover in the air? They have a lot of intellectual property, in a niche market, here's hoping.

I do hold.
 
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While it's nice to identify a BO opportunity before it breaks out :), price is not clear of the corrective channel. The channel is quite wide (~0.30) so we won't be sure we're in a new impulsive move higher until price gets above 1.40.

imd2506.PNG
 
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