Update on Stock in Vanguard of Drive to Phase Out Antibiotics in Animal Feed
Source: Clive Maund for Streetwise Reports
October 30, 2018 (Investorideas.com Newswire) Technical analyst Clive Maund provides an update on a company whose product is replacing antibiotics for growth promotion in animal feed.
You may recall that we looked at this stock, Avivagen Inc. (VIV:TSX.V), almost a month ago, which is in the vanguard of the drive to phase out antibiotics in animal feed. Since that time, although the price has moved little, the stock has continued to strengthen, and most importantly, it has been impervious to the crashing stock market, which doesn't seem to have affected it at all.
The purpose of this update is to draw your attention to this and also to the fact that it appears to be getting ready to break out to the upside, which could happen at any time now. On the 6-month chart below we can see that it is at the point of breaking out above the downtrend line shown, and more importantly from the large bullish Falling Wedge that may readily be seen on the 3-month chart, which was included in the original report on it posted on September 30th. On the chart below we can see heavy buying showing up again about a week ago, which has driven both volume indicators higher again—this is very bullish volume action and suggests that breakout is drawing near.
We therefore stay long, and it is rated an immediate strong buy here.
Avivagen Inc website
Avivagen Inc, VIV.V, CHEXF on OTC, closed at C$0.60, $0.40 on 26th October 2018.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
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3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Avivagen, a company mentioned in this article.
Chart provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
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