Avid Bioservices Inc (CDMO)

[jonnyrocket]

Loofman - I still see us on the 2nd leg since the move started at the beginning of July. One thing to keep in mind is the 3rd leg is usually just a retest (a little lower or a little higher) of a most recent high, and usually a 3rd leg is weaker than the one before it. A short term concern I've had is on the Weekly Chart a pretty clear topping (may be short term) indicator is showing (the PPO and Full Stoch lines meeting together at the top), so I wouldn't be surprised if we get a sell the news soon, and consolidation for 2 - 4 weeks. IMO that would be healthy...and really, it's not an actual concern....just normal....nothing moves in a straight line as much as most here think or hope. Longer term, I think we'll be heading to $5 in a few months, then $10 next year...and on and on. As many feel, I think PPHM has the goods....but I don't think it will be a straight line to $50....these things (normally) take time....and I have never been so confident in PPHM in my 9+ years. This move is historic (.45 to 2.70 in 5-6 weeks)...there's a reason for it...even if we do make a short term top and consolidate for 2 - 4 weeks....the writing is on the wall IMO.

So - I wouldn't worry about tops or anything like that...I think like most investing, it's all about risk tolerance and managing risk. Taking some off the table (10-20%?) as PPHM moves up seems smart to me if you are in pretty deep....but as an FYI, I am holding my remaining shares for the big move over the next few years.