$Imperial Petroleum Inc(IMPP)$Would love to see how this plays out today, was expecting a bullish move yesterday given that it closed lower on Friday markets, but IMPP could have closed lower today due to the news of Shanghai lockdown that brought the price of crude oil down by more than7%, and the fact that IMPP is an oil stock that depends on the price of oil partly in making either aupward move or downward move.
The stock rebounded on 23/03 as shown in the 1st picture, when it reached resistance levels of around 1.50, and made a jump to around 2.20, nowwe see this stock going back to its previous resistance levels, but didn't really touch 1.50, stayed above 1.55 during yesterday's whole trading day, all I can say is if this is shorted in premarket to 1.50 levels, we can expect to see a bullish move, perhaps even a small squeeze to $2.00 levels, but how far this squeezes or goes up in today's market also depends on how crude oil prices trade today, if crude oil manages to break even from yesterday's closing price and rise back to $110+ we can be strongly confident of a bullish move in IMPPtoday!
With that said, we must also bear in mind that this is the US Market, and post-covid there have been many more stocks that don't obey fundamentals and either rise or fall based on sentiments, social media, and the 'meme' factor, just like AMC or GME! Therefore even with positive bullish news out there, we must always be careful when we trade, and carefully observe trading charts to find patters, and where it is most likely to rebound, and learn more so that we can somewhat forecast what can happen next! I'd definitely say that withthis you must definitely do your own DD before entering into any stock/company and do it at yourown risk and put in how much you're willing to sacrifice for a gain, keeping in mind a possible lossas well! To end this I say please invest carefully, play safely, and hope you can enjoy profits and make what you can in this overall bear market with lots of stock prices available at discounted prices!
Tiger Trade suggests a predicted trend where wecan see IMPP moving up to $3-4 levels, which I would love for it to happen, but it's a matter of time to tell when this stock will make its bullish move!
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