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Genedrive Plc

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GDRL trade ideas

GDR when Moon?Current pattern is still very corrective, the 1st demand zone has been broken so now moves towards the second between 53p-60p. This would break the lower trend line so it would be likely just a wick to this zone. There is also a gap to close in 59p here. Targets are still the same, as per previous chart the correction retraced more than 61% so initially would not count it in 5 waves to the upside but in 3 waves as ABC. Targets are the same for the net C wave 1:1 and 1:1.618. But consider to TP at 0.618 of the C wave as well if it truncates. Does not need much to move this as the correction is way overstretched reflecting the delay in the news and should end here somewhere.
LSE:GDRLong
by tempertrade
GDR in strong demand zoneGenedrive ( GDR ) reached a strong demand zone on the daily, also bounced off the 200 MA. Correction is in wxyxz potentially ending here with a strong reversal signal. Last ABC move C extended to exactly 1,618 of wave A. The whole structure retraced deeper than .618 of the wave 1 so the next impulse will likely not continue in a bigger x2.618 extension to w3 but a more conservative impulse of x1.618 or 1:1. Still an impulsive pattern and reversal is expected from this last strong tree shake move. Nothing changed on the upside projection targets as initial targets were conservatives also, although the correction went deeper and extended longer. The corrective pattern is a clear bullish flag and the impulse would most likely continue in a 1:1 Also put the recent news into perspective. Delay of days/ few weeks due to external regulatory workload factors. Yes, it came disappointing expecting it to fly in days and give every day trader free money, but eventually the regulatory approval will arrive in days time and it will pump this SP up in an exact same move as it did before. A tree shake is a good thing to jump on. Investors will move back on any positive news and the demand is big here, due to previous volatility .
LSE:GDRLong
by tempertrade