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#SAVA, rounded bottom, long bias for NASDAQ:SAVA by LoveForCharts

A quick brief, Cassava Sciences , Inc. engages in the development of novel drugs. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX .

Quick take on the price action for SAVA , the stock’s volatility has been largely based on the events surrounding Simufilam – the company’s prospective treatment for the difficult-to-treat Alzheimer’ disease (AD).

Average Analyst rating for SAVA is a price target of USD 147. ( CMP : 68.53)

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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