Avacta at Key Level Avacta Group - Short Term - We look to Sell at 99.10 (stop at 112.85)
Preferred trade is to sell into rallies. Previous support level of 105.00 broken. 50 1day EMA is at 100.00. Previous support at 105.00 now becomes resistance. Trading close to the psychological 100.00 level. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 105.00, resulting in improved risk/reward.
Our profit targets will be 51.65 and 33.70
Resistance: 105.00 / 130.00 / 150.00
Support: 70.00 / 50.00 / 40.00
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