Chart Outlooks for SHMN, FNXC, IMYN

Clearly the market was not ready to follow-through on its bullish effort from Friday, Yet, all three of this afternoon's focal stocks are bullish in one way or another....somewhat. Let's examine SOHM, Inc. (PINK:SHMN), Immunosyn Corp. (OTC:IMYN), and Fonix Corporation (OTC:FNXC), and see what we can come up with trade-wise.

I decided to use a weekly chart of Immunosyn Corp. (OTC:IMYN) instead of a daily chart, but both are important to my broad point. The weekly chart shows you the renewed uptrend taking shape, while the daily chart if IMYN would show you that the stock is just now pushing off an important support line - now's a good entry point.

The best thing about this setup... as I've described dozens of times in the last few weeks, V-shaped reversals are not working, but slow, U-shaped reversals are getting traction. IMYN has made the latter over the last four weeks. If Immunosyn Corp. can just get past $0.48, that should unleash the upside potential.

The only thing missing with Immunosyn so far is volume. Just bear in mind we've only logged one day this week so far, which is why the volume for the current bar looks puny.  We did more than half of all of last week's volume today though, so don't be fooled - more and more traders are starting to find IMYN. A little more 'umph' should set it in motion, though I think it's a safe entry right now.

The question isn't whether or not Fonix Corporation (OTC:FNXC) deserves to move higher. The question here is whether or not today's high volume surge will draw enough attention to FNXC to keep the reversal effort in motion. After all, the January effort failed.

I believe it will be.... that the 44% pop we just saw FNXC make will convince others that this is a stock worth owning. I don't however, know that I'd be in a hurry to step into - you've got time, despite the big jump today (perhaps because of the big jump today). See, I suspect Fonix Corporation shares will retreat a tad, and then restart this bigger rebound movement.

As for a target, take a guess. With a sub-$0.01 stock that trades on this little volume (or did, anyway) but with little volatility, Fonix could rally up to any point between here and $0.02. My suggestion is to simply keep a close trailing stop applied to any FNXC trade, and bail when we see a lower low and/or a lower high.


I know on the surface that SOHM, Inc. (PINK:SHMN) looks like the latest and greatest, particularly after today's surge on high volume. Trust me - it's not all that. Though this degree of volume is new, there pops are nothing we haven't seen (and seen fail) from SHMN before.

The chart below spells it out pretty plainly. SHMN has failed to hurdle the $0.25-ish area more than a couple of times since late 2008. That's not to say it won't be different this time. That's just to say that I'm not counting on SOHM, Inc. doing anything trade-worthy until that happens.... if it happens.

In the meantime, do note that SOHM, Inc. shares have established a slightly-rising support line from the late-2008 lows, which seems to be the springboard for these bounces. One of them will eventually catch SHMN and carry it past the ceiling. For now, let's assume nothing more than this chart being carried up to resistance at $0.25.