Avid Bioservices Inc (CDMO)

[chenzo11]

T/A TIME:
It looks like we will be closing below 1.80. Technically that puts us in the lower, danger zone. With no news Monday morning, I feel its a good bet that we touch 1.61 again. Probably by 11am. It's only about 8% away.

The test of 1.61 the second time will be more difficult. Supporting longs only have so much cash to hold this up. We could very well see a bounce off of 1.61, but how that holds up will be the key. On light volume, and we will fall through 1.61 and test the next support at our gap at $1.45. That could happen by Tuesday noon. My gut tells it will, sorry guys. Play it accordingly.

Wook, I hope you executed that sell at $1.89. You maybe able to buy back in at a 25% discount.

GLTA
Chenzo