Saturday, November 25, 2006

IMM Analysis 11.25.2006

Monthly chart shows bullish butterfly pattern with test of the low. Last 2 months, buyers have been slowly stepping back into the stock.

Stock ended week with buyers stepping back into stock. Price current above prior LIS at the $6.30 level. Next resistance level is at $9.50 area.

Profit taking towards end of Thanksgiving holiday week. Price needs to hold the 200sma as support for more upside.

1 comment:

Anonymous said...

I too like IMM here 6.98