AVGR - FDA @0.80 or MORNING PANIC !!! Opened very strong gapped up morning open then faded dramatically then had a panic and 0.89 which was the original long term support level will be treating this level as the entry for another bounce reclaiming some of its gains from yesterday as this obviously gapped up on news of fda approval, can it hold its new support ???...
AVGR has received 501k clearance by the FDA for its Pantheris device. AVGR opened today with very strong volume over 5mln shares traded in first 5 minutes of the day. There is a large gap to fill on the daily chart from $1.88 to $2.58. Bullish on news.
AVGR seems forming a fallen angel formation. It had a huge surge in volume recently. As a Speculative long setup it has good upside potential.
* Trade Criteria *
Date First Found- June 19, 2017
Pattern/Why- Fallen angel formation
Entry Target Criteria- Break of $0.53
Exit Target Criteria- $1.23
Stop Loss Criteria- $0.39
Please check back for Trade...
AVGR had a huge gap down followed by a sharp down trend holding below EMA lines. But recently it crossed above EMA lines. It also had some insider buying after the stock declined. We think it will go up from here.
You can check our detailed analysis on AVGR in the trading room/ Executive summary link here-