Avid Bioservices Inc (CDMO)

[senrex]

The PPHM chart just broke through (to the downside) a Descending Triangle that dates back to the end of 2008. I believe it’s an all-time price low.

The Bad News: PPHM just broke through (to the downside) a Descending Triangle that dates back to the end of 2008. By taking the target measurement, we'll be far below $0.

The Good News: Given that there's no reason to presume that we'll be out of business, perhaps there's the possibility that this is a head fake or overthrow, and that we'll rally from here.

Unfortunately, if we have the market tank which I believe still awaits us, I cannot see how PPHM escapes a final slaughter of the share price. Of course, PPHM could rally as the market is tanking. But given past experience, few would bet on that scenario.