pythagoras

CYDY fiddling at apex of corrective wedge - Now or New Year?

Long
OTC:CYDY   CytoDyn Inc.
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.

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.