Technical outlook – Approaching this share from a technical perspective, with only given little information due to its age (just over five years), has the potential to slide further as the technical outlook heads deeper into bearish territory.
Assessing the ‘Moving Average Convergence Divergence’ (MACD), along with the Relative strength index (RSI) 3-week lookback may soon hit grounds to see a reversal.
However, that call won’t be assessed until prices reach the $1.20-30 region. Reassess from there.
Company Overview – Polynovo Limited (PNV) is an Australian based medical device company that designs, develops and manufactures dermal regeneration solutions using its patented NovoSorb biodegradable polymer technology. Their development program covers Breast Sling, Hernia, and Orthopedic applications. Former Names: Metabolic Pharmaceuticals Limited (MBP) on 30/11/2009; Calzada Limited (CZD), 28/11/2014.