CytoDyn Inc.Long
CYDY Finishing the big consolidation triangle?
CYDY has rallied strongly from the $2 floor the past week, doubling to $4.2 this morning on recent understanding that results of CD12 study were hampered by the FDA's 2-dose limitation. With 4-doses spread over the 4-week patient evaluations, more severe patients would likely have been saved.
If we conservatively stick to the consolidation triangle idea coming down from $10, we may see this week's rally leg peak out around $4.5 tomorrow, followed by consolidation above $3.5, and a retest as high as $6 in coming weeks before cooling off again. Given the enormous potential of Leronlimab against COVID and cancer, we consider this the most conservative guidance, with a breakout past $6 resistance quite possible too under grant of emergency authorization by any country.
If we conservatively stick to the consolidation triangle idea coming down from $10, we may see this week's rally leg peak out around $4.5 tomorrow, followed by consolidation above $3.5, and a retest as high as $6 in coming weeks before cooling off again. Given the enormous potential of Leronlimab against COVID and cancer, we consider this the most conservative guidance, with a breakout past $6 resistance quite possible too under grant of emergency authorization by any country.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.