Let's try this again. Either straight from here or through a little retest, but the move is coming. Favoring former scenario, feels like we're in that phase where spectators are watching and waiting for a confirmation, only to find themselves left out and fomoing the extension top. Trade invalidated on a break of the 53k lows.
Clear demand at lows, should find its' way to next liquidity zone. Macro structure still intact, assuming the lows hold. There is a special interest to the blue areas marked on chart, representing structural weakness which should fill sooner or later. I would consider this play invalid on a clear break of the lows.
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....
