Clinuvel Pharmaceuticals (CLVLY)

[FarmaZutical]

Nothing has changed in the fundamentals. This is purely technical IMO. The initial fall began on the ASX on relatively small volume. Probably a retail investor panic selling for unknown reasons. Then the avalanche spread to Germany where a lot of new investors have bought in recently. Some of them likely saw the fall in Australia and panicked too.

Fundamentally, things have never looked better. Of course, bad news can have leaked and caused the sell off, but I doubt it. This action is typical before big announcements so I’m actually quite optimistic.

Furthermore, if you look at it from a TA perspective there was a gap that needed to be filled before we can go above $14 AUD on the next leg up.

GL