IMP made a strong rally from its low of  5.10  on March 16, 2016 to a high of 47 on March 30, 2016. Price dropped towards the 78.6% retracement level then bounced back and consolidated within the 50% and 78.6% Fibonacci levels.

On August 23, 2016,  IMP exhibited some buy signals:
1) RSI made higher lows and higher highs
2) EMA Bullish crossover
3) bounce from 61.8% Fibonacci retracement level
It rallied for 4 days and peaked at 25.5, close to the 50% retracement level.
On the daily chart, several bearish signals appeared at the peak of this short term bounce:
1) Bearish candlestick at the resistance
2) RSI made a lower high on the daily chart
3) EMA Bearish crossover

impdaily

On the 5 minute chart, bearish signals occurred and were early warning signals to get out:

  1. Doji at the top of an uptrend
  2. Price breached below 4 day EMA
  3. Bearish crossover

impmin

Currently, (November 2, 2016) , there are some bullish signals:
1) RSI double bottom
2) Price formed higher lows from October 19 low at P16
3) Price closed above 4 day EMA

dailyimpnov2

Resistances are found at :
1)  21 day EMA / box top
2) 61.8% Fibonacci level/ previous high
3) 50% retracement level/ previous high

Cut losses below previous low of 16.

Webinar: High Probability Trades 5

Webinar Dates:
Part 1: November 19, 2016, 9 am– 12nn
Part 2: November 26, 2016, 9 am-12 nn

Details here

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