#Avacta #FTSE Even the rumour of a Biotech company getting involved in anything Covid-19 related has ensured many share prices receive swift enhancements. With the chances of Formula 1 races being held behind closed doors at Silverstone, will “rapid tests” appear?
An announcement of the UK Govt “thinking about, maybe, introducing a 14 day quarantine on air arrivals”, two months after the outbreak and two months after the rest of the world introduced air travel restrictions (except Mexico!), Government Ministers were quick to announce International Motor Racing at Silverstone would be subject to new belated UK regulations. Perhaps they were keen to select an event capable of generating headlines telling the world of the UK’s delayed draconian measures, showing the country with the 2nd highest number of worldwide deaths is fighting back. There’s a phrase about ‘Stable Doors and Horses’… but realistically, an ability to test teams on arrival and departure would serve to make the closed doors event as safe as possible.
Avacta, are one of the companies working in the test field, developing a point-of-care Rapid Test designed to screen large populations to diagnose coronavirus infection. As a devotee of F1, it’s difficult to comprehend why a regime of diagnosis should not allow motor racing to commence in the UK again. Similarly, why should this sort of thing not be employed in lesser sports such as football, tennis, rugby or croquet? On the other hand, make-believe sports like cricket can be safely ignored.
It’s quite frustrating, we prepped a report on AVCT last month, choosing not to publish it thanks to the growth potential sounding absurd. Needless to say, it achieved our initial target of 139p and exceeded it, so we’re revamping our expectations.
Presently trading around 146p, movement exceeding 151p calculates with the potential of further movement to 180p. If exceeded, our secondary works out at 226p. If triggered, the visuals indicate the share needs fail below 117p presently to cancel the growth potentials.
We should also point out our enthusiasm is slightly curbed at present, thanks to the price not yet managing to close above the level of 2015’s 151p. If we apply conventional price thinking, with closure above such a point longer term growth shall prove difficult to restrict.
As an aside, visiting a UK hospital today (Tuesday) proved sobering, required to wash hands, wear a face mask, declare a lack of certain medical symptoms, and given concise instructions on how to move around the building. The advent of a quick test will prove game changing in letting life return to normal, while we’re awaiting a cure.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
19/05/2020 FTSE Closed at 6002 points. Change of -0.76%. Total value traded through LSE was: £ 5,376,891,155 a change of -9.59%
18/05/2020 FTSE Closed at 6048 points. Change of 4.29%. Total value traded through LSE was: £ 5,947,351,021 a change of 14.48%
15/05/2020 FTSE Closed at 5799 points. Change of 1.01%. Total value traded through LSE was: £ 5,195,107,449 a change of -15.28%
14/05/2020 FTSE Closed at 5741 points. Change of -2.76%. Total value traded through LSE was: £ 6,132,234,871 a change of 5.73%
13/05/2020 FTSE Closed at 5904 points. Change of -1.5%. Total value traded through LSE was: £ 5,799,712,485 a change of 7.88%
12/05/2020 FTSE Closed at 5994 points. Change of 0.93%. Total value traded through LSE was: £ 5,375,886,438 a change of -7.35%
11/05/2020 FTSE Closed at 5939 points. Change of -100%. Total value traded through LSE was: £ 5,802,382,632 a change of 0%
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