SVA Retracement
By Johns Wu on Oct 21, 2005
SVA has gone parabolic. The chart looks awesome and it’s pulled back to its latest trendline, which it has been riding for the last few months.
I definitely like the descending volume on the retracement.
Could be due for a bounce? I can’t tell, but keep it on your watchlist for Friday. I’ve also read somewhere that this company is being treated as a bird flu play.
UPDATE: Ouch. Down 9%. No bounce.
This entry was posted on Friday, October 21st, 2005 at 1:51 am and is filed under Annotated Analysis.
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2 Responses to “SVA Retracement”
By Aanand Jadhav on October 27th, 2005 at 12:51 am
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SVA (a Chinese company) is actually developing a bird flu vaccine (http://www.medicalnewstoday.com/medicalnews.php?newsid=20650). and is definitely bird flu play. NVAX would be the distributor if any vaccine gets developed. Both are trending up with lots of momentum and volume recently. Most likely SVA will bounce since bird flu play has just begun (not to mention the “regular” flu season kicking in during winter).
Thanks for the comment on my site. You keep up the good work too. :] - [D]