Get started

Genedrive

#GDR will likely expandFew things with #Genedrive (#GDR): it closed above the 200DMA and it is already gathering some strength before moving on. There is no bearish RSI divergence yet so expansion is possible to continue. However it needs to beat that block of resistance that was earlier a support for so long, so this is now the 3rd run up onto this zone. We beat that and it will likely go straight to the upper parallel channel. TP there at the higher 60s zone, and see how it reacts further. Based on the EW count this should be a similar setup here as the initial covid leg up maybe a more substantial and slower for a C wave up. It might not turn to an uptrend straight but can complete the downtrend and move to a sideways. A lot will depend on the reaction up there. The correction is likely over, however beating that downtrend should not be that easy so likely will react at the top of the parallel channel. One more thing, the gap above £1 is just as much likely going to fill at some point as it filled at 10p - lazy ass gap traders rule this. I can see some further news drop from the company to continue as they are really pushing it now for gaining trust and confidence back from investors. They don't even need to say much and the herd hypes it up themselves. Hopefully the bunch of pumpers are long gone and only true idiots stay and hold this :)
LSE:GDRLong
by tempertrade
Whats next for Genedrive #GDRI have a few possibilities now for #GDR, I know it looks great, up down or sideways. But really these are now roughly the options with the clearly communicated uncertainty and market reaction. First of all the original count and targets are still intact, in green, we are in a C wave or next impulse W3, and we have done a wave 1 and 2, still up we go from here. We need volume and clear impulse to move and prove this is the case in the next days/weeks ahead. This plan can alter depending on the intensity of the impulses, can truncate to an ending diagonal C wave with lower 5th wave targets, probably at the £3 mark at the end, or can extend as a higher high W3 into much higher W5 target than currently pictured. All depends on newsflow. The next two blue and orange options are based on the count that we have a failed impulse X wave instead of a wave 1 of the C. Hence the gap in price overreaction and massive sell out that is remarkable in volume. Any trader would sell off at the next possible gap approach if they had no SL in place and were not part of that sucker -50% SL fill. So following the X wave we do a Y in some kind of a triangle (blue) which shows quite a bullish response for the short term (another hype of expectations?). The orange squiggle is a possibility on a short term bad news (further delay or funding needs) to put a lower low and fill in that lower demand zone under 30p before turning into the upside. Not hard to imagine fundamentals supporting any of these setups and also that all these interim plays the SP could be going towards the previous or a new high when the dust settles. I still support long term holding if you can achieve a healthy average level. The blue squiggle is my favourite, although purely the volume pattern suggests the orange to play out - Now one thing about volume, is that when PIs pump up something based on rumours and hype without any substance, and with the level of PI allocation to this stock, there is no surprise it will fall big volume on unexperienced PI fear. The lack of II support on the SP volume is remarkable, therefore you cant really apply those volume triggers as you would normally do seeking for II activity. CEO comments were spot on to that. Leave the hype of expectations to the company based on their substantial news. imo of course and dyor
LSE:GDRLong
by tempertrade
11
#GDR moves I am fairly confident that GDR entire move from the recent lows was a wave 1/2 so far and we are heading now to the bigger wave3. See my conservative x1,618 extension gives you almost a triple return in a possibly few weeks. Looks already breaking the structure but wait for the previous top confirmation if you want to be sure. Expectations are high, and the mcap is tiny. So hope for no disappointment. Remember at the 40p level where everything looked doomed and this chart ridiculed targeting at least going to £3? Now people shouting £10. and thats not impossible either. I assume we are still in a large C wave until volumes and PA shows an overextended wave 3. Just being conservative in my targets, at least £3 for now then we will see how it moves! IMO, DYOR
LSE:GDRLong
by tempertrade
2
GDR updateNice impulsive move from Genedrive in the past days marking a bottom filling at the 39p gap. We still need to beat the 82p downtrend line and close above it, but I see the Volume and candle support is so strong at the moment that this looks inevitable. MACD 4C slope started very steep for a confident continuation. Scenario is still the same as earlier, and we now move up for the main C wave. Most likely in 5 waves for a C, optimal case to extend 1.618 of the A. Nearly double top or 1:1 extension is the safest plan by the summer in the £3 region. Likely to trade as per these main waves and price action towards the top.
LSE:GDRLong
by tempertrade