INM Technical Analysis - INMED PHARMACEUTICALS INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to INM. INM scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

95% of all other stocks performed better in the past year than INM.

INM is one of the lesser performing stocks in the Pharmaceuticals industry. 79% of 191 stocks in the same industry do better.

INM is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month INM has a been trading in the 2.04 - 2.50 range, which is quite wide. It is currently trading near the lows of this range.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

INMED PHARMACEUTICALS INC / INM Weekly stock chart

INMED PHARMACEUTICALS INC / INM Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, INM does present a nice setup opportunity. Prices have been consolidating lately. We notice that large players showed an interest for INM in the last couple of days, which is a good sign.

Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.08

2.45

We can see 3 important resistance areas.

A resistance zone ranging from 2.21 to 2.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 2.29 to 2.33. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @2.43 from a trend line in the daily 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	DOWN	NEGATIVE	The long term trend for INM is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for INM is down.
ChartMill Relative Strength	5.26	NEGATIVE	INM has a low relative strength, it was outperformed by 94.74% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of INM is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of INM is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of INM is below a declining SMA(200).
Relative Strength Index/RSI (14)	42.72	NEUTRAL	The RSI value for INM is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.02	NEGATIVE	The MACD value suggests INM has a negative trend.
Stochastics (14,3)	18.84	OVERSOLD	The low Stochastics value suggests INM may be oversold.
Average True Range in percent/ATR (20)	6.57	HIGH VOLATILITY	The high ATR as a percentage value for INM suggests high volalility.
Average Directional Index/ADX (14)	23.74	NEUTRAL	The ADX value for INM suggests a possible start of a new trend.