#GDR will likely expandFew things with #Genedrive (#GDR): it closed above the 200DMA and it is already gathering some strength before moving on. There is no bearish RSI divergence yet so expansion is possible to continue. However it needs to beat that block of resistance that was earlier a support for so long, so this is now the 3rd run up onto this zone. We beat that and it will likely go straight to the upper parallel channel. TP there at the higher 60s zone, and see how it reacts further. Based on the EW count this should be a similar setup here as the initial covid leg up maybe a more substantial and slower for a C wave up. It might not turn to an uptrend straight but can complete the downtrend and move to a sideways. A lot will depend on the reaction up there. The correction is likely over, however beating that downtrend should not be that easy so likely will react at the top of the parallel channel. One more thing, the gap above £1 is just as much likely going to fill at some point as it filled at 10p - lazy ass gap traders rule this.
I can see some further news drop from the company to continue as they are really pushing it now for gaining trust and confidence back from investors. They don't even need to say much and the herd hypes it up themselves. Hopefully the bunch of pumpers are long gone and only true idiots stay and hold this :)
GDR trade ideas
Whats next for Genedrive #GDRI have a few possibilities now for #GDR, I know it looks great, up down or sideways. But really these are now roughly the options with the clearly communicated uncertainty and market reaction.
First of all the original count and targets are still intact, in green, we are in a C wave or next impulse W3, and we have done a wave 1 and 2, still up we go from here. We need volume and clear impulse to move and prove this is the case in the next days/weeks ahead. This plan can alter depending on the intensity of the impulses, can truncate to an ending diagonal C wave with lower 5th wave targets, probably at the £3 mark at the end, or can extend as a higher high W3 into much higher W5 target than currently pictured. All depends on newsflow.
The next two blue and orange options are based on the count that we have a failed impulse X wave instead of a wave 1 of the C. Hence the gap in price overreaction and massive sell out that is remarkable in volume. Any trader would sell off at the next possible gap approach if they had no SL in place and were not part of that sucker -50% SL fill. So following the X wave we do a Y in some kind of a triangle (blue) which shows quite a bullish response for the short term (another hype of expectations?). The orange squiggle is a possibility on a short term bad news (further delay or funding needs) to put a lower low and fill in that lower demand zone under 30p before turning into the upside.
Not hard to imagine fundamentals supporting any of these setups and also that all these interim plays the SP could be going towards the previous or a new high when the dust settles. I still support long term holding if you can achieve a healthy average level.
The blue squiggle is my favourite, although purely the volume pattern suggests the orange to play out - Now one thing about volume, is that when PIs pump up something based on rumours and hype without any substance, and with the level of PI allocation to this stock, there is no surprise it will fall big volume on unexperienced PI fear. The lack of II support on the SP volume is remarkable, therefore you cant really apply those volume triggers as you would normally do seeking for II activity. CEO comments were spot on to that. Leave the hype of expectations to the company based on their substantial news.
imo of course and dyor
#GDR moves I am fairly confident that GDR entire move from the recent lows was a wave 1/2 so far and we are heading now to the bigger wave3. See my conservative x1,618 extension gives you almost a triple return in a possibly few weeks. Looks already breaking the structure but wait for the previous top confirmation if you want to be sure. Expectations are high, and the mcap is tiny. So hope for no disappointment.
Remember at the 40p level where everything looked doomed and this chart ridiculed targeting at least going to £3? Now people shouting £10. and thats not impossible either. I assume we are still in a large C wave until volumes and PA shows an overextended wave 3. Just being conservative in my targets, at least £3 for now then we will see how it moves!
IMO, DYOR
Genedrive 154p the last confirmation of uptrendGDR approaching the previous high of the B wave top to break. If that breaks and closes above expect the last confirmation for the uptrend. Reaching the previous high in a shorter timeframe is a sign of strong impulse, breaking it is a conservative entry point to buy.
Targets remain the same between the £3-£5 area depends on how we move forward with PA above the £1.5.
GDR updateNice impulsive move from Genedrive in the past days marking a bottom filling at the 39p gap. We still need to beat the 82p downtrend line and close above it, but I see the Volume and candle support is so strong at the moment that this looks inevitable. MACD 4C slope started very steep for a confident continuation. Scenario is still the same as earlier, and we now move up for the main C wave. Most likely in 5 waves for a C, optimal case to extend 1.618 of the A. Nearly double top or 1:1 extension is the safest plan by the summer in the £3 region. Likely to trade as per these main waves and price action towards the top.
GDR finding a bottomWe might be done here touching the low in Genedrive. A substantial move is coming, irrespective of where the sp ends within this 0.5-0.2 range. Amazing R:R for those able to get in at this price. If this structure plays out the targets not changed, £3 or £5 region depending on the extension of the C wave.
Genedrive is great value here - slow bleed bottomsThe selling power is dropping there is no more volume on this slow bleed. I think we are forming a bottom here finished a 5th of the C of the B and will move up to the larger C from here. Counts well with a finishing 5th wave now poked lower and strong divergence on all timeframes. There is one more option though that can happen (pictured in grey lines) is that we go up for a C of the 4th wave and then the 5th down even lower, I think it is less likely. Well if no news on sales still in January the poke lower will be possible. With GDR I just dont know when the news will drop. Back in May if someone tells me we get to see the first person vaccinated before Genedrive PCR test fills a single sell order... ffs Budd, just take it easy.
The safest entry would be on break of that downward trend line around ~90p
Targets remain as always ~x10 from here. IMO, DYOR
GDR versionsAll 3 possibilities in one overview. Looks like with today`s action GDR is heading to the shorter sub-C wave completion before it moves up.
I would expect a double bottom at 0.45 and 5th wave truncation. The point would be to create a bullish divergence on the Daily.
Dont exclude the WXY version yet, we might not see 0.45 again and bottom was done already. Current action could be start of the larger C wave with sub 1-2 in the making.
I keep my longs, it is a great entry value here, and if drops to 0.45 or below it is a buy with both index fingers.
GDR is getting emotional - hold and keep buyingGenedrive previous setup broke down from what it looked like a Y wave triangle, one of those lessons with triangles - it looks like a triangle, smells like a triangle, but it will probably end up being a flat or zig-zag. I think there are more legs in this move due to the volume, and volume means continuation towards that trend, whatever trend it is. I have a few possibilities here at the marked sub C wave. 4th and 5th wave of the C missing so 5th wave possibly truncates at 54p and forms a bottom - there is no notable bullish divergence yet in any of the indicators to mark the current 54p a bottom. The only reason I bought at 54p is that it was 61% extension of wave A and this clearly showed a sign of reaction here. In overall buying at 5x is a great R:R for the expected move up. Being ultra conservative is a 12:1 R:R with the worst case scenario considered the risk.
2nd option is moving down further in this zig-zag, C could even extend down to 1:1 of the A wave, bottom line is in the 3x area. Form a bullish divergence and turn from there.
This is still a big buy here, just look at the overall picture of the C wave to the upside that is inevitable. Also it might not go lower anymore as minimum requirements for an ABC correction are met - that would make the corrective count back to 3 waves WXY and this would also be valid. My only concern is the first corrective wave looks 5 waves A structure, so hard to force it into a 3 wave W structure.
You could not get wrong buying here. I revised the overall impulsive count from 5 waves to 3 waves for one simple reason, retraced too deep for a wave 2 correction also the time for impulsive 3 wave continuation has now passed. C wave will it be, with at least 1:1 extension to £3.5, or x1,6 to the £5s
Expect the unexpected and don`t get emotional with your investment. If you are aware of possibilities you will have the upper hand when it happens and you will not wet yourself.
fundamentals? - silence remain/ plain results from end June, no outlook provided - drop continues vs. approvals and orders named, numbers published - we move to the £s
IMO,DYOR
Prepare for Genedrive to burstAnyone in still doubt? Just look at the RSI trend-line retest. The uptrend move has been started and will break up next week.The current move we are in is a new impulse and will be full steam ahead, you have been warned. Get GDR on your watchlist and buy while its this fart low.
GDR count Genedrive targets remain the same in the above £5 level next. Corrective pattern count slightly cleared up with this recent triangle completion. My only update is from WXY to ABC count as the first move down was in 5 waves. The X slightly shifted as a B wave. The C triangle completed in 5 subwaves now. I dont expect it dropping below the triangle level anymore. Its a clear impulse target from now on as soon as this RSI break confirms with the close.
Genedrive - Nothing to see here, next target is off the sheetBuilding up for a massive buying zone now. Last chance for buying GDR it seems. Nothing changed on my previous count, this last Y triangle looks more classic triangle form finishing now.
News is this week for sure.
12x. zone is instant buy pressing while it lasts.
GDR bullish impulsive pattern emergingThis is now my most likely count on Genedrive GDR corrective pattern ending in a Y wave triangle formation. All recent waves are 3 wave formations that suggests we are still in a correction.
With this I revert back to my impulsive count and the primary rise is now considered in 5 wave impulse, currently finishing the wave 2 in a wxy. Primary targets of the wave 3 end are remain extended higher, nicely corresponds to the ath level.
My alternative would be that we have finished the Y wave in a more complex parallel formation already and this means we will shoot up from here to w3.
Great entry point for these targets.
