Avid Bioservices Inc (CDMO)

[senrex]

I know that there are some who do not believe that technical analysis applies to a stock like PPHM. But looking at the 1 year chart it is interesting that $2.60 was the price that filled a "gap" dating from May 26th. PPHM returned to fill that gap on November 30th. Since then, we've been consolidating for a month around that price (though not without brief scares) before the "takeoff" on December 31. Gap fills and consolidation patterns to technical chartists are very healthy developments.

Also, since November 30, we've been clinging to the underbelly of an up trend line that dates back to November 2008. I've been holding my breath because the next stop looked like about $2.25 unless we regained a position above that trend line. Thursday's rally on heavy volume pushed us firmly above it.

The chart picture looks much better.