CVM fell victim to a short attack triggered by a tweet from aging Biotech Blogger/ Biotech Hitman Adam Feuerstein on Friday.
This brought the price down to the 0 fibonacci level which is in close proximity to the $16.60 support level. Despite the heavy selling volume CVM tested key levels $16.83, $16.60 to close higher.
The RSI is oversold and price is bellow the POC line which represents the price where the most shares were traded (YTD). 70% of shares traded YTD were traded above the current price. I anticipate a bounce to $23.74 short term. Long term $150
Disclosure: Long AF CVM and its my favorite stock
This brought the price down to the 0 fibonacci level which is in close proximity to the $16.60 support level. Despite the heavy selling volume CVM tested key levels $16.83, $16.60 to close higher.
The RSI is oversold and price is bellow the POC line which represents the price where the most shares were traded (YTD). 70% of shares traded YTD were traded above the current price. I anticipate a bounce to $23.74 short term. Long term $150
Disclosure: Long AF CVM and its my favorite stock
