Testing time for Avacta?

#FTSE #Nasdaq One thing the clever people making tests forget is the 30 minutes spent in the car afterward, waiting for results while your eyes are watering and your throat is gagging. A weekly visit to an elderly relative in a nursing home has resulted in a game of “things to do while awaiting the all clear to enter”. The car has never had such a clean dashboard, spotless windows, even vacuuming the interior while awaiting for Covid-19 test results, a requirement before entering the building.

But I remain uncertain whether I will ever get used to intrusion so far up the nostrils, or poking around in the throat. But at least the 30 minute delay allows some productive time in the car park!

 

There seems considerable discussion as to what type of Covid-19 test is best and today, once my eyes stopped watering, took some time to review recent reports relative to Avacta. Glancing at some of their scientific information, only two numbers immediately stood out. Firstly, it appears the waiting time for results may be reduced to 20 minutes and secondly, a comment of a 99%/100% success rate in diagnosis for their latest product, recently granted medical approval. Personally, I’m not interested in the difference between testing and while it’s tempting to throw terms like “PCR” or “lateral flow test” into the sentence, my layman interest only wants the test to be accurate and avoid false positives (and false negatives).

 

When we reviewed Avacta last September, we teased with a chart showing 291p and a mention it was a region with substantial longer term gains. It took until April this year for the price to top out at 290p, cheerfully close to our target level and a number capable of creating considerable optimism again for the future. Alas, while sitting in the nursing home car park today, time was also take to glance at internet chatrooms to get a feel for what private investors are thinking.

One person what writing about the potential of the price heading to £40, another was promising £10 by Xmas. Thankfully, the majority of posters were embracing sanity while forgetting the 100:1 share split back in 2016 means a few long term holders will need this share to reach above £50, just to break even. When we adjust the share price to accommodate this history, it’s certainly the case a miracle is arithmetically possible. Strangely, the price does not require much work to give early signs for happy days.

The immediate situation is pretty straightforward. Presently trading around 238p, the share price now needs better 290p to enter a cycle where further growth toward 314p calculates as very possible. Should the 314p level be exceeded, we can supply 388p as a pretty impressive longer term ambition. At this level, the share split 100:1 risks effecting everything as our software, rather exhuberantly, projects the next target level at an insane looking 1,338p. Except, it’s not insane when historical share prices are adjusted to cope with the share split.

 

As always, we can paint an alternate scenario and for Avacta, the share price needs below 176p to trigger alarm. Such a severe dip currently threatens reversal to an initial 137p with secondary, when broken, at a bottom of 86p and hopefully a bounce. Currently there are no warning signs suggesting this is probable.

Hey, chart goes here

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FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:11:39PM BRENT 72 Shambles
10:13:19PM GOLD 1893.14
10:15:18PM FTSE 7102 7070 7060.5 7040 7112 7122 7142 7185 7091 ‘cess
10:17:10PM FRANCE 6567 ‘cess
10:19:11PM GERMANY 15663
10:21:03PM US500 4225.92 ‘cess
10:23:17PM DOW 34597 ‘cess
10:26:35PM NASDAQ 13812 13741 13720 13652 13836 13923 13968 14112 13712 ‘cess
10:29:36PM JAPAN 28961

 

8/06/2021 FTSE Closed at 7095 points. Change of 0.25%. Total value traded through LSE was: £ 4,751,728,118 a change of 8.88%
7/06/2021 FTSE Closed at 7077 points. Change of 0.11%. Total value traded through LSE was: £ 4,364,121,178 a change of 7.1%
4/06/2021 FTSE Closed at 7069 points. Change of 0.07%. Total value traded through LSE was: £ 4,074,732,159 a change of -14.11%
3/06/2021 FTSE Closed at 7064 points. Change of -0.62%. Total value traded through LSE was: £ 4,744,036,832 a change of -6.04%
2/06/2021 FTSE Closed at 7108 points. Change of 0.4%. Total value traded through LSE was: £ 5,048,977,038 a change of -2.93%
1/06/2021 FTSE Closed at 7080 points. Change of 0.83%. Total value traded through LSE was: £ 5,201,214,939 a change of -13.74%
28/05/2021 FTSE Closed at 7022 points. Change of -100%. Total value traded through LSE was: £ 6,029,889,894 a change of 0%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:AML Aston Martin** **LSE:AV. Aviva** **LSE:BT.A British Telecom** **LSE:DDDD 4D Pharma** **LSE:EMG MAN** **LSE:IHG Intercontinental Hotels Group** **LSE:ITV ITV** **LSE:OPG OPG Power Ventures** **LSE:RMG Royal Mail** **LSE:SPX Spirax** **LSE:ZOL Zoldav** **

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Updated charts published on : Aston Martin, Aviva, British Telecom, 4D Pharma, MAN, Intercontinental Hotels Group, ITV, OPG Power Ventures, Royal Mail, Spirax, Zoldav,

LSE:AML Aston Martin Close Mid-Price: 2162 Percentage Change: -1.77% Day High: 2262 Day Low: 2156

Continued trades against AML with a mid-price ABOVE 2262 should improve t ……..

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View Previous Aston Martin & Big Picture ***

LSE:AV. Aviva. Close Mid-Price: 421.8 Percentage Change: + 2.70% Day High: 426.4 Day Low: 413.8

In the event of Aviva enjoying further trades beyond 426.4, the share sho ……..

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View Previous Aviva & Big Picture ***

LSE:BT.A British Telecom. Close Mid-Price: 185.75 Percentage Change: + 1.23% Day High: 187.1 Day Low: 183.25

Target met. Continued trades against BT.A with a mid-price ABOVE 187.1 sh ……..

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View Previous British Telecom & Big Picture ***

LSE:DDDD 4D Pharma Close Mid-Price: 88.8 Percentage Change: -2.09% Day High: 91.1 Day Low: 88

In the event 4D Pharma experiences weakness below 88 it calculates with a ……..

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View Previous 4D Pharma & Big Picture ***

LSE:EMG MAN. Close Mid-Price: 181.1 Percentage Change: + 1.31% Day High: 181.5 Day Low: 178.15

Target met. All MAN needs are mid-price trades ABOVE 181.5 to improve acc ……..

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View Previous MAN & Big Picture ***

LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 5166 Percentage Change: + 3.86% Day High: 5208 Day Low: 4965

Continued trades against IHG with a mid-price ABOVE 5208 should improve t ……..

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View Previous Intercontinental Hotels Group & Big Picture ***

LSE:ITV ITV. Close Mid-Price: 132.5 Percentage Change: + 0.80% Day High: 132.55 Day Low: 129.85

In the event of ITV enjoying further trades beyond 132.55, the share shou ……..

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View Previous ITV & Big Picture ***

LSE:OPG OPG Power Ventures Close Mid-Price: 15.25 Percentage Change: -1.61% Day High: 15.5 Day Low: 15.25

Weakness on OPG Power Ventures below 15.25 will invariably lead to 14p. I ……..

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View Previous OPG Power Ventures & Big Picture ***

LSE:RMG Royal Mail. Close Mid-Price: 606.4 Percentage Change: + 1.17% Day High: 606.2 Day Low: 597.6

There are two solid reasons to suspect some hesitation around the current ……..

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View Previous Royal Mail & Big Picture ***

LSE:SPX Spirax. Close Mid-Price: 13030 Percentage Change: + 1.28% Day High: 13085 Day Low: 12850

Continued trades against SPX with a mid-price ABOVE 13085 should improve ……..

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</p

View Previous Spirax & Big Picture ***

LSE:ZOL Zoldav Close Mid-Price: 22.5 Percentage Change: -11.76% Day High: 25.5 Day Low: 22.5

Target met. Weakness on Zoldav below 22.5 will invariably lead to 14 with ……..

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View Previous Zoldav & Big Picture ***

*** End of “Updated Today” comments on shares.

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