The bounce happens right at the uptrend line.  Like a perfect orchestrated maneuver, price bounces on cue.

Take a look at the daily chart below and you know what I mean.

Notice how the fast stochastics line below begin to turn up.

Remember, just because I sold out my position for small losses doesn’t mean I’m not watching it anymore.  You see, by cutting my small losses earlier, I get to buy $IMUC back on a cheap in the right place with a good risk/reward ratio.  This is what swing trade is all about.  Of course, it won’t work like this all the times but it will work enough that you know cutting losses earlier is the way to go.

And yes, this bounce has yet to prove itself; but I like it here better than when I was holding it from high up.

My 2 cents

 

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The way I see it, if you hear or see something that tickle your interest, you are being present an opportunity to do something about that “info” you’ve heard or seen.

Recently, Tpain from the Blogger Network asked me about $IMUC.  I take a look at it and like the look of the chart and have told Tpain my analysis (see below):

“Hello T, I didn’t see your comment until now. By looking at the chart, the price has been on an uptrend since mid-Nov of last year. And it is now in the ascending triangle formation. The way I see it, your breakeven point is right at the long-term trend line from mid-Nov. If that line is taken out, you could still get out at breakeven.

In summary, I can’t tell you if there is a future in your stock; but you seem to be in a good position to ride this out and still get out at breakeven when the long-term trend line is violated.”

At the time, price looks like it may break out to the downside by violating the short-term uptrend line.  However, after a few days of price action, I’m convince this stock may have leg to breakout of the ascending triangle.

Take a look at the daily $IMUC chart below:

Thus, I’m willing to put my money down for this one.  Anyone looking at it has to say the price is heading higher, no?

A big Thank You to Tpain from the Blogger Network for bringing this to my attention   Bravo!

Btw, I dumped my losers stock $PACB & $DCTH to cut loss and piled some of the money into $IMUC.  Let’s see if it will work.

My 2 cents.

 

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