$IMX has been one of the cleaner bounces off the August lows. It bottomed around 9.5 cents and just ran up toward 20 before cooling off a bit around 17.
Technically it looks alright. Price is sitting above the 7, 30 and 200 day MAs, RSI is strong but not blown out yet, and MACD has flipped back to the bullish side. Volume actually showed up on the push, which is more than you can say for a lot of these dead cat moves.
Doesn’t feel like there was one huge catalyst today. More like a technical breakout plus some money rotating into alts / gaming names. The project itself has cleaned a few things up over the last year (chain merger, SEC thing closed), but that was already known.
Still 98% off the old highs so nobody should get carried away. Watch whether it holds the 16 cent area. Lose that and it probably just fades back into the range. Hold it and 20 becomes the next obvious test.
Technically it looks alright. Price is sitting above the 7, 30 and 200 day MAs, RSI is strong but not blown out yet, and MACD has flipped back to the bullish side. Volume actually showed up on the push, which is more than you can say for a lot of these dead cat moves.
Doesn’t feel like there was one huge catalyst today. More like a technical breakout plus some money rotating into alts / gaming names. The project itself has cleaned a few things up over the last year (chain merger, SEC thing closed), but that was already known.
Still 98% off the old highs so nobody should get carried away. Watch whether it holds the 16 cent area. Lose that and it probably just fades back into the range. Hold it and 20 becomes the next obvious test.
