#SAVA, rounded bottom, long bias
Updated
A quick brief, Cassava Sciences, Inc. engages in the development of novel drugs. It focuses on developing product candidates intended for the treatment of Alzheimer's disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.
Quick take on the price action for SAVA, the stock’s volatility has been largely based on the events surrounding Simufilam – the company’s prospective treatment for the difficult-to-treat Alzheimer’ disease (AD).
Average Analyst rating for SAVA is a price target of USD 147. (CMP : 68.53)
I am expecting to see some resistance around $76, which is also the 20 week Moving Average. This stock has given a great move over the last 3 days and is currently 24% away from the 5 day Moving Average, 34% away from the 20 Day Moving Average and about 25% away from the 200 Day Moving Average
Given the formations on the chart, looks like a nice rounding bottom being formed on SAVA. There Is likelihood price will test the 76 dollars range soon. If it holds there, next target could be 96 dollars, else look for a move back towards the 20 Day Moving average
I think this stock is great "buy the dip" stock and would be looking to accumulate
Do note, this stock is extremely volatile, do your research.
Quick take on the price action for SAVA, the stock’s volatility has been largely based on the events surrounding Simufilam – the company’s prospective treatment for the difficult-to-treat Alzheimer’ disease (AD).
Average Analyst rating for SAVA is a price target of USD 147. (CMP : 68.53)
I am expecting to see some resistance around $76, which is also the 20 week Moving Average. This stock has given a great move over the last 3 days and is currently 24% away from the 5 day Moving Average, 34% away from the 20 Day Moving Average and about 25% away from the 200 Day Moving Average
Given the formations on the chart, looks like a nice rounding bottom being formed on SAVA. There Is likelihood price will test the 76 dollars range soon. If it holds there, next target could be 96 dollars, else look for a move back towards the 20 Day Moving average
I think this stock is great "buy the dip" stock and would be looking to accumulate
Do note, this stock is extremely volatile, do your research.
Note
Watch out, rounded bottom being created. Also, this could be a cup and handle formation.Note
Handle still being formed, so far looks good. keep an eye for breakoutNote
What a lovely break...cup and handle as expected formed. Intra day stock went to 68. AS suggested this was the resistance zone and price moved pre market down at 56 levels now. Over 30% gains in less than a monthNote
Lovely break for the stock, back with a bang! 55 to 100 dollars intra day is big!!
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