Support at $0.10, resistance at $0.14this tax-loss selling excuse i'm reading on here as the reason for the last few days of weakness is BS. IMT has rallied in the back half of the year, no one has a tax-loss on this puppy unless they bought at the top of the latest rally, everyone has got a gain. Tax-loss selling in December occurs on losing stock positions, not winners that are near their highs for the year (like IMT is).
I think the obvious reason is the whole REE penny stock sector (rivals like CIN and EMI and BRU and MDL) are all tailing off on low volume.
only thing i'm concerned about is that today's sells were from "anonymous", and in IMT's case, in the past, that has usually been insider sales.
Half decent level of buy orders on Level 2 around the
.10 mark, and no real signficant sell orders until the
.14 and
.15 area, so i'll try and pick some up here at
.10 or
.105 in the coming days.
But the catalysts for IMT and EMI and CIN are a sector rally like in early November on speculation of news coming from any of the BC REE properties, or better yet, news from IMT that they've identified drill targets on the Chuchinka property and JV partner EMI is looking to drill.
That'll shoot both stocks up to new yearly highs, but at this point, i'm not holding my breath for a PR by year-end.