Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>SAVA stock price is below the key moving averages, showcasing bearishness.</a></li>
 <li><span>2</span> <a>Cassava stock dropped by 4.83% in the last trading session.</a></li>
</ul>
<p>SAVA stock price has been struggling to break above the key EMA levels and is stuck below it. Currently, SAVA shares need more buyers to support an upward movement toward recovery. However, the trading volume is low, which indicates a lack of interest and momentum. At the same time, SAVA shares have broken below the 20, 50, 100, and 200-day daily moving averages, which are bearish signals.</p>
<p>SAVA stock price lost 7.93% last week. It fell by 15.14% in the month. Moreover, Cassava stock witnessed a decline of about 25.46% in the past six months and plunged 50.59% over the past year.</p>
<p>Also, Cassava stock price dropped around 41.24% year to date. These trends collectively show the challenges faced by SAVA shares in their recovery efforts throughout the year.</p>
<p>Technical indicators highlight the downtrend of SAVA stock price. Relative strength index (RSI) showcases and moving average convergence divergence (MACD) both indicate the slippage SAVA share price.</p>
<p>The price at present requires substantial support from the buyers in order to make a recovery as it faced major resistance from the previous resistance points and multiple moving average levels.</p>
<p>The price may soon attempt to make a bullish recovery. However, as it is below the key EMA levels, the buyers will have to face multiple resistance levels in order to attain the target. Buyers are presently making efforts to retake charge of the trend.</p>
<h2 class="wp-block-heading" id="strong-short-time-horizon-analysis-sava-stock-strong"><strong>Short-Time Horizon Analysis: SAVA Stock</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/xDguK2Jefvq558XLGoQXVb15ACTb_CKhZJWeGR-UN7uUDFx4vQHp8no_CGMmQQ_AIW_wOrpyCqTQlGHQjAPxVFEvk1_rbElCD1G3JIiSVvF6tPnzGI9gbz0SA3NjFnfNBk8Qqh-S-ZiaF77Wp_zGZvc" alt="Cassava Stock: SAVA Stock in the Bears Hands, What Next?">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div>
<p>SAVA stock has shown sellers’ strength. Profit booking in the stock was noted on the short-term charts. Moreover, the price is below the key EMAs, which shows further weakness in the stock.</p>
<p>The RSI curve is near the oversold region at 42, and a negative outlook was noted, indicating bearishness in the stock. The MACD indicator also persisted to form red bars, and a bearish crossover was noted, which <a href="https://www.thecoinrepublic.com/2023/03/16/cassava-sciences-sava-can-pharma-company-boost-own-financials/" rel="noopener noreferrer nofollow">signals</a> corrective moves.</p>
<h2 class="wp-block-heading" id="strong-technical-evaluation-is-more-downside-pending-in-sava-stock-strong"><strong>Technical Evaluation: is More Downside Pending in SAVA Stock</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/h9IkAvQYf9XONm6pAQgRvSo5-I_MQxDaIhbUz_309ohlvKxAWckpvH0k7GzWKVTcRb34cmN-PLapE0eZlp81kEVtPCsrS_UKaiMXVTtuOCPNIjC1XxRTie7PK--Z2502bs90fK-fUI8XqSRh-a7B9W0" alt="Cassava Stock: SAVA Stock in the Bears Hands, What Next?">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/EJDJchRZ/" rel="noopener noreferrer nofollow">Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>At the time of publishing, SAVA stock is trading below the 50 and 200-day exponential moving averages (EMAs), which are supporting the price trend.&nbsp;</p>
<p>The current value of RSI is 42.72 points. The 14 SMA is below the median line at 43.23 points which indicates that the SAVA stock is bearish.</p>
<p>The MACD line at -0.2125 and the signal line at -0.3395 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the Cassava stock price.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>On the daily charts, SAVA stock shows sellers’ dominance and slipped below neutrality, showing a negative outlook on the charts. Moreover, the price dropped below the lower Bollinger band. Overall, the technical indicators and price action suggest that SAVA stock is bearish and that the downtrend may continue.</p>
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3>
<p><strong>Support Levels: </strong>$16.60 and $15.00</p>
<p><strong>Resistance Levels:</strong> $19.13 and $20.67</p>
<h3 class="wp-block-heading" id="strong-disclaimer-strong"><strong>Disclaimer</strong></h3>
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Cassava Stock: SAVA Stock in the Bears Hands, What Next?

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