Tuesday, May 29, 2018

Immupharma has already gapped down, to go further south

Immupharma shares (LSE:IMM) gapped downwards massively in April 2018, and it has moved sideways since then.

The ADX period 14 is at the level 40, showing the seriousness of the ongoing bearishness in the market. DM- is below DM+, meaning bears really have upper hands now.

The MACD default parameters, has its histogram and signal lines below the zero line. There is a Bearish Confirmation Pattern in the market, and when a breakout does occur, following the current consolidation, it would most probably be in favor of bears.

IMM is supposed to go further and further downwards when a directional movement returns to the market.

Azeez Mustapha

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