Clinuvel Pharmaceuticals (CLVLY)

[sante1]

From a technical point of vue CLVLY is clearly in a downtrend in my believe!

I follow the Candlestic pattern, together with the SMA, bollinger bands, stochastic oscillator.

Furthermore you need to take always the price-action of CUV in consideration, she is leading.

After the AGM the shareprice of CUV decreased, first a bit but the second day after the AGM the SP felt straight down, AUS $0,97, nearly a dollar on high volume! That was a clear signal, the conformation that in my believe Clinuvel (CUV) started her downtrend.

The outcome of the AGM disappointed the shareholders. The SP has risen already on forehand. The outcome of the AGM gave no conformation of what the Market was expecting!

Hopefully the SP starts bottoming soon.