Connect with us

Hi, what are you looking for?


Should you buy Cassava Sciences as the stock continue to soar

Retail interest in Cassava Sciences (NASDAQ:SAVA) remains far from over. The stock gained more than 6.7% on Wednesday, catapulting it to a 76% increase in value in a month. The Wednesday gains came as a result of improved sentiment in Biotech stocks Biogen Inc. and Eisai Co. Ltd. Both companies had, on Tuesday, announced positive results from a late-stage Alzheimer’s treatment study.

No hard math to explain the double-digit returns for Cassava Sciences. The company has this year been marred by controversy over the manipulation of research data for its Alzheimer’s drug. However, last month, the Journal of Prevention of Alzheimer’s Disease acquitted Cassava Sciences of wrongdoing. Lately, the US SEC recommended an end to Cassava’s investigation on the Simufilam study. 

The positive developments have been boosting Cassava Sciences stock. The prospect of an Alzheimer’s drug is monumental for Cassava as the condition has proved difficult to treat. But with a single drug in its pipeline, Cassava needs to convince investors of its worth and get rid of a meme tag.

Cassava Sciences initiates a breakout from a descending channel

Source – TradingView

On the technical front, Cassava Sciences is bullish after breaking above the descending channel. The stock has been on a downtrend since November 2021. The RSI is coming from an overbought zone, but the stock’s momentum remains high. The stock is a hold up to the resistance zone at $62.

Should you buy it now?

Investing in Cassava sciences, you should know that it is largely driven by retail interest. The stock can post further returns to the $62 resistance. Investors can buy on the retracements but be aware of quick volatility changes on the stock.

The post Should you buy Cassava Sciences as the stock continue to soar appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023