50% Potential, bounce off the channel

NASDAQ:CODX   Co-Diagnostics, Inc
Hello trader people,
this is an interesting stock, if you look at the pattern it is very like a SPAC in the way it has shot up and then come back down again, it traded in a descending channel after the spike and in this analysis of mine I am saying it has found it's trading level and ie ready to begin it's ascent again. Shorts will have moved onto other stocks and long investors are moving in. My initial taget it 25% upside or 13 dollar price target but if you're willing to hand in there then the rewards are there to be had.

It would be easy to look at this as a covid play that will retreat after the vaccinations are handed out and in a sense this may be correct but my thoughts are the patented way they are doing the tests are the key and this has high long term value. It is applicable to lots of virus' and also in agri and other industries as well.

They turned a profit already and the company is very young, more than can be said for a lot of companies out there, it would be easy to see this as a buyout candidate or for them to do a licensing deal with a large pharma player who can scale their technology up very quickly. The notoriety garnered from the exposure during this pandemic will serve them well. Silver clouds for some...
If you think this is financial advice you need to have your heads checked, do your own DD.
Not currently invested but hope to take a position next week.
Trade closed: target reached: Worked out vey well but unfortunately once again I was in another stock, 50% target reached, will really have to start taking my own advice


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