Genedrive PLC

Genedrive PLC (LON: GDR) is a UK-based healthcare company engaged in the commercial-stage molecular diagnostics business. As per our previous recommendation on GDR as on March 28, 2022, we recommended a ‘Speculative Buy’ rating on the stock at GBX 26.32, and noted below are the details of support/ resistance summary provided in our previous report:

Recommendation Summary as on March 28, 2022

GDR’s Daily Chart

Considering the resistance levels attainment, current trading levels and risks associated, we are of the view that it is prudent to book profit at the current levels. Hence, we give a 'Sell' rating on the stock at the current price of GBX 41.50 (as of April 04, 2022, at 09:15 AM GMT+1). 

Note 1: The reference data in this report has been partly sourced from REFINITIV.

Note 2: Exit decision should be made depending on the investors’ appetite on upside potential, risks, holding duration, and any previous holdings.

Note 3: Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

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