Replies to post #49497 on Avid Bioservices Inc (CDMO)

[Thales622]

Hi Sean,

Can you tell me what this means ? I'm not too up on trading jargon:
Several indicators on the daily chart are flashing overbought signals, so don't be surprised at some consolidation soon.

[Green grine]

If things play out right, there will be no such thing as "overbought" !

Good luck to all longs - hoping for some exciting times over the next few months. Gosh this has been a long road!!

Green

[keep_trying]

Senrex, if you do a 90 day look back, there really doesn't seem to be that much of a pps surge hanging out there for PPHM to do a consolidation, don't you think?

If anything, the pps is just revisiting the higher values set from a month, two months and three months back while lows slowly trend up forming a consolidation wedge. Here is chart excerpt, which appears to show a general uptrend in pps with PPHM pps exhibiting higher highs and higher lows, rather than a parabolic rise that would raise expectations for a consolidation. Of course, that is said with an "amateur's" perspective in interpreting charts.



PPHM is just approaching the six month mark since the 5:1 reverse split, but the general uptrend in pps should allay some of the concerns about a post RS pps drop.

Today's announcement that PPHM is actively offering support for ISTs seems bullish to me due to the confidence being shown by management in the Cotara and Bavi family technology. News that supports Cotara and Bavi performance is coming out between AACR and ASCO and PPHM has a program in place to responsibly address interest in the medical community. To me, that reflects responsible planning and good business plan execution by the management team. Based on CJ's notes, the best of the near term news that PPHM has planned to share may be around ASCO (June).

I also look at the ripening of option trading for PPHM as being a bullish sign. It will be interesting to see what options are posted on NASDAQ as carrying open interest, post ASCO.

Best wishes and IMO.
KT