Technical outlook – At present, the Moving Average Convergence Divergence (MACD) holds firmly beneath the 0.00 axis, which in term has reaffirmed bearish signal.
Therefore, along with the bearish Relative strength index (RSI), Polynovo Limited (PNV) bearish potential looks towards a downward journey (in short-term) to the region of $1.90. Reassess from there.
Company Overview – Polynovo Limited (PNV, formerly Calzada Limited) 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.