IMRN Technical Analysis - IMMURON LTD-SPON ADR

Technical Rating and Analysis

Overall IMRN gets a technical rating of 8 out of 10. Although IMRN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

Both the short term and long term trends are positive. This is a very positive sign.

When comparing the performance of all stocks over the past year, IMRN turns out to be only a medium performer in the overall market: it outperformed 65% of all stocks.

IMRN is part of the Biotechnology industry. There are 536 other stocks in this industry, IMRN did better than 54% of them.

IMRN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so IMRN is lagging the market.

In the last month IMRN has a been trading in the 1.80 - 2.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

IMMURON LTD-SPON ADR / IMRN Weekly stock chart

IMMURON LTD-SPON ADR / IMRN Daily stock chart

Setup Rating and Analysis

Although IMRN has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.58

2.18

4 important support areas can be observed.

A support zone ranging from 1.89 to 1.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @1.79 from a horizontal line in the daily time frame.
Support @1.65 from a horizontal line in the daily time frame.
Support @1.60 from a horizontal line in the daily time frame.

When analyzing the resistance we notice one important area.

Resistance @2.16 from a horizontal line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for IMRN is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for IMRN is up.
ChartMill Relative Strength	65.21	NEUTRAL	IMRN is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of IMRN is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of IMRN is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of IMRN is above a declining SMA(200).
Relative Strength Index/RSI (14)	55.83	NEUTRAL	The RSI value for IMRN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests IMRN has a positive trend, although the MACD value is declining.
Stochastics (14,3)	70.83	NEUTRAL	The Stochastics value for IMRN is a neutral value.
Average True Range in percent/ATR (20)	5.15	HIGH VOLATILITY	The high ATR as a percentage value for IMRN suggests high volalility.
Average Directional Index/ADX (14)	26.56	POSITIVE	The high ADX value value for IMRN suggests a strong trend.