$Imperial Petroleum Inc(IMPP)$Let's do some more digging into all the patterns I have observed and important pointers to take note! 

Before I jump into this, let me remind you that this is my opinion and take/view on the stock IMPP and how these pointers can affect its movement. Textbook charts are most of the time true, because we have seen expected behaviours, example the "head-shoulder" pattern, is very common if you look closely at volatile stock trading charts. Also another thing to take note is to not consider this as financial advice and take it as a fact, rather just a mere opinion and my views on IMPP!

Let's take a look at the attached pictures below. 

The first picture shows us a squeeze in IMPP up to $2.20 levels before closing on 23/03 and continued on the opening of 24/03 after which the shorters and long sellers took over and decided to take the profits or short at that point. Then we see the stock simmering down, for the next 3 days,however two things to take note is that each day the negative difference between the opening price and previous day's closing price gets smaller and smaller and at the end of the market it tries toreach the price at which it opened on the same day! Another thing to take note is how the stock nicely bounces off 1.44, which is its lowest price in March and the rebound price as well for March! If you study the chart you will be able to find two earlier days on which the stock also touched 1.44but then managed to rebound and increase! So we can say that there is perhaps a strong resistance at 1.44 for IMPP! 

Now we move to the third picture, which is a 190K Shares Buy Order at 1.52!! That is very huge indeed and definitely these buy orders suggest a strong resistance to not allow the stock to go below certain levels, in this case 1.52, and as we saw previously, next resistance was found at 1.44 as well!!

Given the oil prices swing trading and unfortunately the negative EPS that IMPP posted yesterday,the stock went down on open, but as mentioned, did not go further below 1.44 and slowly raised towards the same day's opening price and managed to cross it, as we observed earlier. These give us some bullish signals to the stock, as it is looking like a textbook chart for a squeeze back to $2levels, whether it will go to $3-$4 levels as predicted by Tiger Trade is dependent on stock volume and other news factors such as how the US Market on that day, how oil is trading, the conflicts of Russia-Ukraine and those relating to oil, and definitely last but not least, news from IMPP company! These are factors that can affect movement of IMPP, sentimental factors should be included as well, AMC is a very good example of this!

That is all for my observations, let's see how this stock pans out today and how it trades, and hope for the best! Like I always say, please invest carefully and play safely in this market! All the best to my dear Tigers 🐅‼️