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Kalvista Pharmaceuticals (Symbol: KALV) Boucing Off From Identified Support Level

2018-01-20_KALV-UTW

Kalvista Weekly Price Chart – Kalvista in our long term portfolio is bouncing off from the previously identified support area. As we said before “I would not be surprised to see the price spiking temporarily below $9 and will certainly hold the shares in my portfolio as long as the price does not close below (this moving average). I do not expect the $8.5 level to be violated even temporarily as it is a strong support for the price.”  The price spiked down to $8.5 but never closed below $9.05 until the bounce happened. KALV looks bullish from there.

 

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