SVA is on the move again. Given the overall weakness in the broader market, we have to be careful here.
I have previously mentioned that there is a chance that SVA will not go down further due to the subscription to its common share offering.
From the Ichimoku chart, we can see the following :
- Chikou Span (green line) is about to pierce through the price level.
- Coincidently, this is the level that SVA has previously gap down.
- On top of that, the price level is now right below the Kijun sen (purple line) at around 6.78
- As mentioned, given the broader market weakness, I will keep a tight stop-loss.
