Avacta for 23/09/2020

#Nasdaq #France Despite the UK Prime Minister effectively cancelling Xmas, it became pretty evident he’s desperately hoping for a fast, efficient, and accurate method of testing for Covid-19. As a result, we thought we’d better revisit one of the companies we previously reported on in May, #Avacta. We puzzle why the UK does not already employ similar tests used in Italy, ones which feature a 15 minute delay at the airport while awaiting the test result?

 

However, internet chatrooms are alight with speculation about some near term share price optimism amongst companies involved in the testing sector, thanks in no small way to Boris’s speech to the nation on Tuesday. In the case of Avacta, we’ve slight hesitation in embracing optimism, due to the share price failing (just) to reach our previous secondary target level of 226p. A lunge at 215p was hopeful but failing to reach this target level carries the threat of inherent weakness.

Presently the share requires to trade below 150p to justify serious concern, this allowing weakness to establish toward an initial 137p with secondary, if broken, at a bottom (hopefully) of 117p.

 

However, if the man who killed Xmas has just delivered an early present to traders, we shall be inclined to optimism at any movement next above 177p as this calculates with the potential of a visit to an initial 196p. If exceeded, our secondary works out at 219p, a visually pleasing number marginally higher than achieved in May and taking the share price into a region which promises substantial longer term gains. As always, it’s “fingers crossed” time.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
11:08:17PM BRENT 42.19 ‘cess
11:10:29PM GOLD 1901.82
11:12:29PM FTSE 5884.6 Success
11:14:49PM FRANCE 4809.9 4761 4744.5 4714 4799 4821 4829.25 4839 4794 ‘cess
11:17:36PM GERMANY 12685.38
11:19:59PM US500 3308.02 ‘cess
11:23:14PM DOW 27312 ‘cess
11:26:02PM NASDAQ 11149 10919 10833.5 10708 11113 11207 11323.5 11538 11024 ‘cess
11:30:41PM JAPAN 23026
22/09/2020 FTSE Closed at 5829 points. Change of 0.43%. Total value traded through LSE was: £ 4,816,339,128 a change of -8.93%
21/09/2020 FTSE Closed at 5804 points. Change of -3.38%. Total value traded through LSE was: £ 5,288,811,181 a change of -43.99%
18/09/2020 FTSE Closed at 6007 points. Change of -0.69%. Total value traded through LSE was: £ 9,442,217,884 a change of 120.95%
17/09/2020 FTSE Closed at 6049 points. Change of -0.48%. Total value traded through LSE was: £ 4,273,425,233 a change of -23.19%
16/09/2020 FTSE Closed at 6078 points. Change of -0.44%. Total value traded through LSE was: £ 5,563,460,983 a change of 15%
15/09/2020 FTSE Closed at 6105 points. Change of 1.31%. Total value traded through LSE was: £ 4,837,644,674 a change of 35.92%
14/09/2020 FTSE Closed at 6026 points. Change of -0.1%. Total value traded through LSE was: £ 3,559,218,269 a change of 1.56%

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