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<\/p>\n#Brent #Gold <\/b>\u00a0Before launching into a diatribe about Genedrive in answer to a few emails, her in Argyll a surprise awaited when the bedroom curtains were opened. A massive cruise liner was parked outside, languishing in the grey and miserable weather. We often get mini cruise ships but the ship photographed below was big but thankfully not of the design which reminds of 1970’s council flats, just tarted up garishly to look modern, usually sprouting unlikely tubes which passengers use to convey themselves from one swimming pool to another lower deck pool. The ship outside was for another type client as it was called ‘Spirit of Adventure’ from Saga. And to underline the clich\u00e9 of the visit, the passengers were visiting a local botanical garden and estate.<\/p>\n
It certainly appears the cruise industry is back at work, so we shall issue an update on Carnival (LSE:CCL) next week as this was maybe an omen. This monster arrived silently, spent the day, and left silently on the outgoing tide.<\/p>\n
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A few years ago, when we reviewed Genedrive, somehow or other we plucked a share price of 41p out of the ether, suggesting if the share managed to close a session below 41p, trouble probably lay ahead. This was a shame, especially as the company make and sell real products, rather than being in the pharmaceutical speculation industry with values based entirely on whatever investors think on any given day. But in September 2021, the price indeed closed below 41p, opening an arithmetic argument which didn’t foresee a great future.<\/p>\n
The situation now is a little bit troubling as the Big Picture allows for a share price bottom at just 1.49p, a target level the share price has floated above during the most recent four sessions. We can express a vague hope of a bounce being due, if only because price movements have not hit our projected “ultimate bottom” of 1.49p and perhaps this gives the potential of a bounce anytime soon. We’re not exactly oozing confident, thinking the share price is a candidate for the market to discover an excuse to gap it up one day at the open, ideally above 3p, as this has the potential to start some real recovery.<\/p>\n
We’d certainly advocate some caution with the target numbers we’re about to present as the visuals don’t suggest taking any rise seriously until the price exceeds the Blue downtrend on the chart. Currently, this line is at 5.5p, substantially above our theoretical trigger level of 3p.<\/p>\n
And so, without further hesitation, our software is currently hinting above 3p should head for an initial target level at 8.8p. Our longer term secondary is being presented at 11.8p, along with a warning to anticipate some hesitation at such a target level. While we do have targets above such a point, we think it would be wisest to revisit the share and analyse what’s happened, rather than believe the current near 10 fold gain shall prove an accurate prediction. While our software doesn’t have a sense of humour, we’ve learnt to take sizeable gain potentials with caution. But strangely, when we’re talking about drops, things can prove quite accurate.<\/p>\n
For now, Genedrive Plc appear worth keeping an eye on.<\/p>\n
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FUTURES<\/p>\n
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