CytoDyn Inc.Long
CYDY fiddling at apex of corrective wedge - Now or New Year?
The previous pop back to old purple bottoms line predicted here in September fizzled a bit at the top peaking early around $2.55 instead of the expected $2.75-3.00. Now we're filling in leg E of the giant corrective wedge since July 2020 $10 high. While the shareholder vote this morning did not meet its quorum requirement, the good news is this morning's retest of C bottom $1.25 does mean leg E has met minimum fractal requirements for finishing the 5-wave orange wedge. However, we can see that the orange wedge apex does have room for more little oscillations in this area down as low as $1 into the end of 2021. CYDY said they will file the Breakthrough Designation application for TNBC cancer next week, which should support price with some speculation during 60-day FDA response window. Negative FDA response would naturally finish the wedge with spike down to $1, or positive FDA response would break out towards double digits.
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