On the above bi-Weekly chart price action has corrected over 90% since June 2020. A number of reasons now exist to be bullish , including:
1) A strong buy signal prints (not shown).
2) Regular bullish divergence . Multiple oscillators printing divergence.
3) Price action confirms support on past resistance.
4) Falling wedge breakout + backtest.
Is it possible...
Bullish trend 📉
Stock: ADVM | Adverum Biotechnologies, Inc.
Healthcare | Biotechnology | USA | NASDAQ
Trend Analysis: The stock's price has been consistently following a uptrend characterized by higher highs and higher lows. Traders may look for buying opportunities as the stock approaches the buying limit.
trend resistance goes back to 2021, barely breaking now in 2023!
also recently broke local trend resistance, I could see this having a rally to 1.5-2.5 in next few weeks or so
boost and follow for more, thanks 💙
time to add target 2.25 stoploss 1.13..Adverum is moving forward with its eye disease gene therapy that caused headaches in April 2021, but is doing so with fewer staff on board.
The biotech is laying off 78 employees, or about 38% of its workforce, in order to conserve cash and keep the lights on into 2025, according to an SEC filing.
Adverum Biotechnologies Inc is a US-based clinical-stage gene therapy company. It develops gene therapy product candidates intended to provide durable efficacy by inducing sustained expression of a therapeutic protein. The company has primarily generated revenue through license, research and collaboration arrangements with its strategic partners. Its lead product...
Adverum Biotechnologies Inc is a US-based clinical-stage gene therapy company. It develops gene therapy product candidates intended to provide durable efficacy by inducing sustained expression of a therapeutic protein. The company has primarily generated revenue through license, research and collaboration arrangements with its strategic partners. Its lead product...
With the recent advancements about the possible change of board members and the earnings report, finally ADVM should start its climb. The first target is $3.80.
ADVM is following it's previous bearish sentiment pattern as it has also gapped down. MACD shows bearish sentiment and both in long-term and short-term trend this stock isn't showing sign of recovery anytime soon.
I think it hit the bottom. From this point on, it will most likely move up (considering all the volume going in). Any news catalyst will easily trigger the stock.
About my point about Phase 2 trial issue in an earlier post, any biopharma company has the risk of a failed Phase 2 trials and/or side-effects. That is why they do these trials, not immediately...
After their Phase 2 trial issues, the price sank like titanic.
It may be the lowest price and it may be a good opportunity to go long.
Analyst predictions for the company goes as high as $28.
Adverum Biotechnologies Inc is a US-based clinical-stage gene therapy company. It develops gene therapy product candidates intended to provide durable efficacy by inducing sustained expression of a therapeutic protein. The company has primarily generated revenue through license, research and collaboration arrangements with its strategic partners. Its lead product...
Adverum Biotechnologies Inc is a US-based clinical-stage gene therapy company. It develops gene therapy product candidates intended to provide durable efficacy by inducing sustained expression of a therapeutic protein. The company has primarily generated revenue through license, research and collaboration arrangements with its strategic partners. Its lead product...
