CODX 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
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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After 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...
CODX 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 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...
Comparing 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.
