Replies to post #67605 on Avid Bioservices Inc (CDMO)

[alvaroc2]

In my opinion we need to break swag 30ss 1.47, and close up to 1.50 and consolidate these level, regards.

[Protector]

Personally I would say that whatever happens in days with volume below 500K (specific in the case of PPHM of course) is meaningless and just the effect from trading play.

Just see it like that:
If a stock moves 5 cent a day (up/down) and you manage on average to take 2.5 cent out of those movement over 100K shares (all operations included) then you made yourself 2500$ that day.

I don't know about you but I can live with 2500$ a day, certainly on week-days :)

Real movements have volume, are news or international event driven or are the result from a strategy behind the scene (large buy/sell by an institutional with a slow fill algorithm, ATM, margin call closes when stock dives below 2$ for some brokers, etc). Also the crappy eZine, the guru followers and some technical analysis may cause effect.

Personally I find TA to work if there are sufficient people looking at the same graph coming to conclusions based on the same set of rules. So if you manage to find out what TA is most in use by the traders that trade PPHM then you may be one step ahead of them. I don't do TA.

[swg_tdr]

honestable, RE price action

not a "semi pro" or trading this stock, but IMO:

some Pros follow this stock and punish it when price gets out of line short term, also MMs do their thing for the darts and instit.

chart specifics, the 8/24 hi vol spike was turned back at 200ema(coincided w/ a long term $1.83 line on my chart also)
IT WAS WAY OUTSIDE THE BOLLINGER BAND so any one could have shorted or sold hi/buy back lo, once it broke

currently, the 50ema and another 1.56/1.57 prior hi/lo and congestion area would be the major near term barrier.

News simply does not move PPHM long term, only supply and demand balance does.

Good luck,
NHwild