IMNR -
IMNR has a 20% growth rate but no earnings yet! The open interest is
so-so. Yes, IMNR has bounced off the lower BB and the RSI is low. What
concerns me is the lackluster volume for a bounce. Without news IMNR
may re-test the $8.00 bottom to make a double-bottom before a serious
reversal. IMNR trades has been trading this month an average of
417,000 shares. It should have at least 600,000+ shares trading in a
pivot bounce. Not much RSI support there! Watch it real closely.
Notice below that the short interest ratio increased in December. More
short interest slows down a stock price and drags it down by the
increased liquidity.
NASDAQ: (IMNR : $10 3/8) $236 million Market Cap at January 8, 1999
Loss Expected for 1999; Biomedics SubIndustry priced at 42.4X PE
iqc.com
Month Shares Short Avg Daily Volume Ratio* Remark
12/98 2,109,312 346,740 6.08 days to cover short
11/98 2,277,223 428,396 5.32
10/98 2,323,758 370,263 6.28
09/98 2,503,671 365,378 6.85
08/98 3,758,480 430,634 8.73
07/98 4,395,755 1,170,979 3.75 |
