Quick take on the price action for SAVA , the stock’s has been largely based on the events surrounding Simufilam – the company’s prospective treatment for the difficult-to-treat Alzheimer’ disease (AD).
I am expecting to see some resistance around $76, which is also the 20 week Moving Average. This stock has given a great move over the last 3 days and is currently 24% away from the 5 day Moving Average, 34% away from the 20 Day Moving Average and about 25% away from the 200 Day Moving Average
Given the formations on the chart, looks like a nice rounding bottom being formed on SAVA . There Is likelihood price will test the 76 dollars range soon. If it holds there, next target could be 96 dollars, else look for a move back towards the 20 Day Moving average
I think this stock is great “buy the dip” stock and would be looking to accumulate
Do note, this stock is extremely volatile, do your research.
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