Replies to post #336799 on Avid Bioservices Inc (CDMO)

[EndoTarget]

3 new II and now 58.66%

[Protector]

westjtter, I agree. furthermore we have had this several times in the past 6 months. Suddenly 1+ down, then suddenly up again.

I also agree with what djohn noticed, namely extremely low volume for this move. That again points to the fact that with these dips we are looking at hard times for MM to make market.

The more we hold to our shares the harder it will become till MM needs to go for high priced sell orders. Question is, what is his current position average. If we knew that :)

[Wildhorses]

westjitter,

Just a couple of things. First from IBD.

1. CDMO is currently ranked 4th in the Medical, Biomed/Biotech space.
2. The Med, Biomed/Biotech space is rated 27th out of 197 industry groups.
3. CDMO's Composite Rating is 97 (Extremely high and hence the rating).
4. Relative Strength Rating is 92 - also excellent.
5. Key thing for me is that Accumulation/Distribution Rating is still A+
6. And, Up/Down Volume is 2.6

Items 5 and 6 speak to the accumulation that's going on.

Secondly, as back up. If you look at a colored daily candlestick chart with volume shown in bar chart form across the bottom, it's clear to see that green (up days) generally have very good volume and down days (red) are much weaker volume. Of course, a line graph of On Balance Volume (OBD) also shows this phenomena.

Big boys joining the party. Just mho.

Regards,
WH