CYDY Finishing the big consolidation triangle?
CYDY has rallied strongly from the $2 floor the past week, doubling to $4.2 this morning on recent understanding that results of CD12 study were hampered by the FDA's 2-dose limitation. With 4-doses spread over the 4-week patient evaluations, more severe patients would likely have been saved.
If we conservatively stick to the consolidation triangle idea coming down from $10, we may see this week's rally leg peak out around $4.5 tomorrow, followed by consolidation above $3.5, and a retest as high as $6 in coming weeks before cooling off again. Given the enormous potential of Leronlimab against COVID and cancer, we consider this the most conservative guidance, with a breakout past $6 resistance quite possible too under grant of emergency authorization by any country.
If we conservatively stick to the consolidation triangle idea coming down from $10, we may see this week's rally leg peak out around $4.5 tomorrow, followed by consolidation above $3.5, and a retest as high as $6 in coming weeks before cooling off again. Given the enormous potential of Leronlimab against COVID and cancer, we consider this the most conservative guidance, with a breakout past $6 resistance quite possible too under grant of emergency authorization by any country.
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