Resistance

Million

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>INM stock price is trading below the key moving averages.</a> </li> 
 <li> <span>2</span> <a>InMed Pharmaceutical’s stock price is in the bullish dominance.</a> </li> 
</ul> 
<p>The stock price of INM stock shows signs of weakness, losing momentum below the key moving averages. InMed Pharmaceuticals stock had a brief breakout above the upper trendline, but it was short-lived as the bears pushed the price down. The buyers failed to maintain the momentum and started to exit their positions, resulting in a decline in the stock price.</p> 
<p>INM stock has been in a downtrend for the past few months, forming lower highs and lower lows patterns, and facing resistance from the upper trendline, which prevented it from breaking out of the trend. The price action indicates that INM stock has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.</p> 
<p>At press time, InMed Pharmaceuticals stock was trading at $0.4198 with an intraday gain of 2.64% breaking below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume also showed a decline of 172.172K and the average 10-day volume of 347.896K. The market cap of InMed Pharmaceuticals <a href="https://www.thecoinrepublic.com/2023/11/09/dnb-stock-dun-bradstreet-stock-break-above-falling-wedge/" target="_blank" rel="noreferrer noopener">stock</a> is 1.397 Million.</p> 
<p>Over the span of a week, InMed Pharmaceuticals stock has experienced a decrease of approximately 21.39%, and this decline has been seen in the course of a month, reaching around 40.87%. Looking back over a three-month period, INM shares have dropped by about 53.87%, while the decline extends to around 65.59% over the last six months. Furthermore, the stock’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 78.58%.</p> 
<p>In Q4 23 the company reported a revenue of 2.31 Million and a net income of -338.39K with a negative profit margin of -14.64%. Moreover, growth in the revenue and reduction in the losses was noted in the previous 5 quarters.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-inm-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of INM Stock Price in 1-D Time Frame</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1273" height="577" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181.png" alt="INM Stock: Buy, Hold, or Sell InMed Pharmaceuticals Stock?" class="wp-image-180012" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181.png 1273w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-181-1140x517.png 1140w" sizes="(max-width: 1273px) 100vw, 1273px">
  <figcaption class="wp-element-caption">
   Source: INM.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>INM stock is currently trading below the 50-day and 200-day EMAs, which are providing support to the price trend. However, the price could break below these SMAs and move lower if selling pressure increases.</p> 
<p>The RSI indicator is currently at 36.38, which is in the bearish zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal.</p> 
<p>The MACD is bearish, with the MACD line crossing below the signal line. This indicates that the INM stock is likely to continue to fall in the near future. Overall, the technical indicators suggest that INM stock is bearish in the short term. However, if it can maintain the current level, it could continue to rise in the long term.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/11/08/reckitt-benckiser-share-price-lse-rkt-prediction-2023-2024/" target="_blank" rel="noreferrer noopener">INM stock technical </a>oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the InMed Pharmaceuticals stock price. INM price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $0.4000, and $0.3500.</p> 
<p>Resistance Levels: $0.6781 and $0.8786.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

INM Stock: Buy, Hold, or Sell InMed Pharmaceuticals Stock?

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