Avacta Group price: AVCT buyers are devastated

Avacta Group Plc shares (LSE:AVCT) are decidedly weak, and the current bearishness in the market, especially in the near-term, has really scuttled buyers’ effort. Their hope has been dashed, as explained below.

Price is essentially below the EMA 21 and the William’s % Range period 20 is in the oversold region. This is a bearish signal. It does not mean the market is oversold: It means price is currently weak and further weakness will be experienced, which will take price towards the support levels at 110.00, 100.00 and 90.00 within the next several months.

The outlook on AVCT is seriously dismal. This is not a kind of market in which buyers can make money.

Teach Yourself Technical Analysis: Technical analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Peter Gold

• 

  gurely

• 

  Dan Atkinson

• 

  Chrisoil