Will IMPP Be a Good Buy Soon?
When Is a Good Time To Buy IMPP?
IMPP had its IPO during the time when energy and commodity markets were in a massive rally due to the Russian war and supply chain challanges. This ticker symbol had one of the best spikes in price compared to the entire energy sector. It was trading like a meme stock on certain days. The hype and euphoria seem to be lingering with this stock even though the share price has been falling for quite a while, and the energy bull run seems to have faded. But recently, IMPP has been showing some promise with some upward price action at these very low prices. So when is a good time to buy IMPP?
Long-Term Trend
In the chart below you can see the long-term trend. The price of IMPP has been falling since march of last year with the majority of the energy market. But recently, the price action has broken out to the upside of this price channel. This is a slightly bullish development.
Short-Term Trend
The breakout seemed promising until last Friday when there was some major selling. You can see the big red candle in the chart below, which illustrates how strong the selling was. The selling corresponded with the price action breaking down below a short-term rising wedge pattern. The selling also corresponded with a slight bearish RSI divergence and a bearish cross on the MACD indicator.
I like to use the simplest T.A. charting tool, the price channel. Basically, I try to make all pricing vectors into a price channel. It helps me in my trading on occasion. So, I have highlighted where a potential bounce could happen if this price channel is to be confirmed.
I have provided the major support/resistance levels that can be used as possible pivot points. These are areas where you might find buyers and/or sellers stepping in to provide support or resistance. If this small rally continues, then I will be watching these areas for a bounce in price.
Macro and Fundamentals
IMPP is a commodity related ticker. It's profits and share price are interlinked with the price of oil. Oil has been in a bear market for some time now. In order to have more confidence in being bulish with this ticker, ideally, you would want to see the price of oil in a bull market, or at least in some sort of rally.
Not to say that the share price of IMPP will not go up unless crude prices are climbing. This ticker can still increase in price without an oil bull market.
Fundamentaly, IMPP has been progressively releasing better earnings and financial statements throughout the past year. From EPS, ROE, cash flows, and revenues as seen in the chart below, things have been looking better and better for this company recently.
Personally, I am aware that the CEO of this company is actually a legit CEO, and he has been taking steps to improve this companies long-term prospects by purchasing profit producing assets regularly. But he has financed these purchases by diluding the companies share price through stock offerings. Financially speaking, this company may have more upside in the future.
I do want to mention that of all of the bag holders in this company, there are not a lot of holders above the 3.70 price point. If the price can climb higher than that then there is nothing stopping the climb based on the position cost distribution chart.
Conclusion
Personally, I would find it hard to go all in on this ticker symbol at the present moment. I might allocate some capital towards this name if crude prices were in an uptrend. Fundamentaly and financially, this company looks good, but its share price just keeps falling over the long-term time frame, so I am a little scared to jump in just now. Oil's price is at relatively high levels historically, so this company could gain value, but its gains will be capped eventually if oil's price does not climb upward. This is why I would be cautious with this energy name or any other energy name in the current market environment.
This small rally could very well continue, but I would need to see more positive technical signs in IMPP's charts before I jump into this stock.
As always, this is not investment advice. Good luck trading. Be careful and be patient. Give your investments time. Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. And just follow the trends. A trend is your friend.
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102640653 : Can u check for me tencent technicals chart n Shanghai technical charts. Look like China markets may not totally follow us markets. May be a different game plan. Since January China markets have underperformed while us markets outperformed . There r many issues unknown yet. As I worked out looks to be a wonderful third n forth quarter for China n hongkong . All depends how the data come in place. I still see china government manipulating their data in order to dictate market direction. Need your help for technical reading bin Tencent n China markets shanghai
SpyderCallOP 102640653: I'm checking tencent out now. I will get back to you.
102640653 102640653: Thanks . If Alibaba really gets settled with spin-off then it might kick start a rally here . It almost looks undervalued. Tencent too
SpyderCallOP 102640653: it is spinning off a grocery segment or something right? I can't remember...
SpyderCallOP 102640653: whatever it is, if the spinoff is a segment that is less profitable on average than the whole, then it should be moderately beneficial for BABA. Or they could just be trying to raise money. we will see what happens soon
73059841 : I would take small portion and DCA until the noise come in!
Freddie Crugher : need to see a better up trend