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.

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