Is CODX accumulating? Will we see a pandemic this year?As I shared before. I still think CODX is worth its place to be in my portfolio. We can see a typical accumulation and I will be adding to my previous currently losing position. (Adding to a losing position is not the best advice). But I believe the huge upward potential worth the risk.
Targets will be the first supply area and I will leave the rest open in case it extended to all time highs.
Disclaimer: THIS IS A RISKY trade and not a financial advice. Do your own analysis.
0A50 trade ideas
Strong BuyLoad up.....the breakout is imminent! With another looming global explosion in hybrid stronger more lethal Covid cases are on the horizon.
The company has a weak cash position 38M, with minimal debt 2.6M. the company is cash flow negative bleeding money <24M>.
Historically the company has a dilution factor dating back to 2016 at 9M shares, currently standing at 32M O/S & floating
My price target is $30!
NFA
CODX set to move to 12-15$CODX has been trading in a wedge since the top marked about 1.5 years ago. Last week's blowout earnings should act as a proper catalyst for this name to find its' way to the next liquidity zone, which is around 12-15$. A small gap can be found on lower timeframes around 10.40-10.50, which would be the first target for those looking for a more cautious play.
Whether the catalyst will be enough to break the wedge for a much larger move remains to be seen. This is not far fetched in my opinion, as cases are picking up again and countries reimplementing lockdowns, the illusion of going back to normal is waning.
The play is valid as long as we don't close back inside the liquidity zone where we left.
CODX ContinuationCODX is forming a pennant formation, where it has consolidated and is now looking on the bullish side. Its above all its moving averages as they are curling up underneath price nicely as support. The bottom side support is around 8.10 of the pennant pattern. Looking for this to push upward to a new layer of resistance around 9.8
Co Diagnostics Inc Abnormal volume & undervalued
1 Year Price Target: $23.00 for a 180+/-% return
About: Co-Diagnostics, Inc., a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was founded in 2013 and is headquartered in Salt Lake City, Utah.
CODX SnapbackCODX is overexended to the downside piercing completely beneath the lower bollinger band. It is also oversold on stochastics showing less than 10. It's on its 5-6 consecutive red day. It got bought up this morning after being down -7% and went green on day briefly. I suspect buying power will come into play and push this back to average true range. There is slight resistance on the hourly around 10 range. Target is 10-11.
CODX Co Diagnostics SellOff. Buy oportunity?If you missed the 2x from my previews call:
Then you should know that the stock was hit by a big selloff, even though they beat the consensus analyst revenue estimate in Q4 with sales being higher 24% year over year to $27.1 million.
This might be your 50% upside potential chance.
If you are interested to test some amazing BUY and SELL INDICATORS which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
CODX Retest/RemountCODX has retested the 15 level as of last week which was the previous breakout level. After a breakout price generally comes back to test previouls support. This has retested and remounted over support showing bullishness. I believe this can go back to the most recent highs of the 20 range.