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./p>
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.
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Chart provided by the author.
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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.
