CODX trade ideas
CODX possible reversal CODX could see a possible reversal. A nice big green candle with volume to break the red line holding down CODX would indicate a reversal.
CODX Oversold and Overdone Target $18 then $20CODX even after great earnings and outlook this is getting punished. Right now it seems to Oversold and great entry for full position Target $18 then $20. Everyone needs PPE kits that is not going away even after the vaccine and reopening. Winter is coming
Bearish trend for this ticker...seems like this will go downMost of the time its consolidating but seems like it will go down.
LONG CODX to finish off this weekThis stocks been really good since begining of the year...why not buying it?
$CODX Codex Finds strong support, Reversal opportunity
Stock has found support on the Middle Bollinger Band (20MA),
in confluence with historical pivot point.
RSI is approaching midpoint and previous support.
Profit taking may be coming to a end.
Lower level of support sits at the 50ma @ $20.00
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Co-Diagnostics CoPrimer technologyAfter the Food and Drug Administration approved collaboration partner Clinical Reference Laboratory's saliva test for COVID-19, CODX shares soared 28.3% on Monday.
One of the biggest private lab companies in the United States, Clinical Reference Laboratory (CRL) developed its saliva COVID-19 test using Co-Diagnostics CoPrimer technology to boost sensitivity and reduce false positives by eliminating amplification errors common in molecular testing.
The FDA's emergency-use approval for CRL's test using CoPrimer techology isn't the first for Co-Diagnostics, though. The healthcare company secured FDA emergency-use authorization for its Logix Smart Coronavirus Disease 2019 (COVID-19) test in April, and on May 14, it reported unaudited COVID-19-related revenue of $18 million year to date.
The rapid spread of Covid-19 is contributing to a backlog of testing demand that's causing delays in test results, so there's a significant need for new testing capacity.
The potential tailwind to Co-Diagnostics revenue from COVID-19-related testing is significant since the company's total revenue was just $1.5 million in the first quarter. Given the sales numbers reported in May and increasing testing in the United States throughout the past quarter, it appears a big quarter-over-quarter increase in revenue is on tap when management reports second-quarter results on August 13.
Potential Short on CODXAt strong resistance point. Set small stop loss to protect from massive jump but also fairly large take profit.
$CODX Co Diagnostics $29.50 Target
Well established channel has held as support
mid channel resistance in confluence with ATH as target zone.
Volume increasing
CODX Bollinger Band SqueezeCODX has been consolidating and the bollinger bands have become more narrow, which will create a squeeze out of the consolidation. It has also tested the $20 area 3-4 times, looking for it to break through on the next test.
$CODX Potential Swing Trade Setup$CODX is a company focused on commercializing molecular diagnostics for infectious diseases, including COVOID-19 with their testing kit.
With COVOID-19 infections slowly ticking up in the US and more cities are are temporarily shutting down, we might see more demand in these testing kits.
$CODX has been flagging in its channel since June 12th and a breakout can have it gap fill for a potential target of $21.53
Also since flagging, Stochtastic and MACD has historically crossed and resulted bouncing off trend line support. RSI also has bounced off support for a price bounce.
Also has 15% short interest.
Keep in mind I am not a financial advisor and this information is strictly for educational purposes only.
Update of CODX chart analysisComparing the time and price reaction of last power play, maybe slightly add positions is another way to long this name.
Judging by the current COVID situation within domestic USA, the future need for diagnostic products fits the stock price trend.
Factors as illustrated.
CODX BreakoutCODX has all of its moving averages converging underneath its price after a strong green day on higher than relative volume. The bollinger bands are becoming more squeezed which represents consolidation with a soon breakout. The $20 range has been a resistance level tested several times. Looking for this to break above to the 22 area.
Long CODXEntry after BO the downtrend. I will take 1R profit as a cushion and move the trail stop to the entry point.
