Avacta short completeShorted on Avacta, following the price reaching its peak, where it previously fell, I looked to do the same with a nice rr. *NOT AN IDEA*
Avacta
AVACTA Update - Don't sell too earlyThis is a friendly note, just to say, don't sell too early. I don't want you sitting at the dinner table at christmas, with a frown on your face.
Purely from what this chart is saying; forget about all the positive fundamentals going on in the background.
(1) We had an impulse move from the lows down @ ~40p, up back inside the previous range and on to 130p. From which we have seen a healthy correction, and the lows of the previous range held well. Drawing a fibonacci retracement of that move we can see that 0.5 held well (will post image below).
Following this correction we have seen price now break out from previous diagonal resistance.
(2) And now we have the price action and the lagging strand nicely clear of one another and the cloud, across multiple time frames; a bullish scenario. This can be especially said for the last time it broke out on the 4 hour chart. (This is pointed out on the chart).
Now i dont think this break out, combined with the fact that we are above the cloud will be any different from the last break and impulse move.
(3) Now I'm no Elliott wave theory specialist, but having a rudimentary count, means that we are for wave through of the overall 5 wave move, which has a tendency to be the longer extended wave move.
Drawing a fibonacci expansion from the first move, the overhead targets for this 3rd wave are (0.618) ~ 159 ; (1.00) ~ 197 ; (1.6) ~ 260. Don't forget that these 3 waves tend to be constructed of a 5 wave move themselves.
Notice how these numbers line up quite nicely with some historical price action.
Please don't take this as financial advice. These are my own ideas, and putting them here for illustrative purposes.
I wish you all the best as always in your journey.
Train about to leave - Last CallSomething tells me this is your last chance to get on the AVACTA train.
Fundamentals
- We are awaiting the results of phase 1 trials, and all things are pointing for it to be very positive.
- A great pipeline of drug development
- Possible Take-over bids incoming
- With a little research, the list goes on and on to be honest for Avacta.
Charts
- Higher time frame, we have formed this bull flag from the previous impulse move.
- Price action has consolidated and we now have decent accumulation/consolidation under the upper resistance of the flag pattern.
- On to this, price action and lagging span is about to be trading above the ichimoku cloud on pretty much all important time frames. 15 minute through to 1 day. When you get this confluence across time frames it can be very exciting.
Price predictions for me are.
- 140p within 2 weeks
- 200p+ end of September.
AVACTA - LTF trade ideaI know I bang on about Avacta a lot. But think we have a good trade setup here
- Bollinger bands pinching
- Accumulation/build up, approaching the top of a channel (bull flag Htf)
- Strong excitement/sentiment amongst investors
- Wider markets performing/recovering well.
- Higher lows on 1 day tf
- OBV creeping up, whilst price steps down (1 day)
* Stops would sit just below the swing lows here.
* Targets could trail cos this really could go some now.
Or entry on retest of overhead resistance as support.
I feel like we could be trading above ichimoku on 1 hour and 4 hour easily in the coming day, so taking position now could beat the crowds.
AVACTA - 10/1 odds on longWould you back a horse at 10 to 1. My risk to reward ratio here.
But what if I told you. The horse should be priced in at 5/1 or even 3/1. And that the horse had a great pedigree behind it. Would you take it.
Take your £10 not to the bookies this weekend, and go and get in on this race because its going to go off soon enough!
AVACTA breakout trading strategyFriday was a good day for avacta and it cemented that build up of the handle part of the cup and handle.
No we are looking for a solid breakout come Monday. Here I have detailed 3x approaches you could take, to take this trade.
Each with their advantages and disadvantages.
Thoughts welcome.
Bon chance!!
Update on AVACTAHeres a little update on AVACTA. Falling descending wedges breaking out, and then the formation of a mini bull flag. Might see a pop to 121 today but maybe even further.
Good luck everyone!
AVACTA updateWhat AVACTA is looking like. Im hoping for a move to the neckline of that inverse head and shoulders, some consolidation here and then a break through with a fair target of 140p.
Waiting for monday openWaiting for monday open.
Simply staring at this chart and waiting for LSE open monday morning. Thank god its not a bank holiday otherwise the wait would be longer hah
AVACTA ih&sAVACTA forming a nice inverse head and shoulders pattern on the 1hour.
Formed during the correction. We have made a lower high and the candle patterns are giving us confirmation. Also confluence of the fib level.
Looks promising.
A plan for AVACTAAvacta has had a rally up. It has formed a falling wedge / bull flag which could serve as a continuation pattern.
First target could reasonably be the top or start of the falling wedge ~141p.
Targets after that we are looking at the fib retracement of the previous macro down trend and/or the previous price action (there is some confluence between the two).
Long AVACTA againIve cancelled my buy orders sitting on old support and @ the 0.618 line of this recent leg up to give the liquidity to simply enter here. It is a trade I would rather be in than not at all, so for the sake of the difference, Im going for a punt here. A sort of bullish divergence on the 1hour chart, but not strictly lower low on price action, but squint hard enough and its there.
I can this this break through the overhead resistance line and rallying to 159 quite easily.
Update on AVACTAHeres my update on AVACTA
Thinking that the run could just continue, and it might. But I always feel that when I am most bullish as a result of a long run up and its time for a bit of down (for now).
Bearish divergences on 1 to 6 hour time frames.
Seem to be forming this rising wedge, that looks like it could break to the downside.
We are at historical price resistance, back within an old channel. Id be looking to buy 118-121p and then bottom of the channel once more, which also aligns with the 0.628 fib level.
SynchronicityJust really wanted to post this chart. Just because I love how the middle three Fibonacci bands are aligned with historical price action.
Just love it.
AVACTA is one to watch.
