Hi All, Rick good luck.
tagging 4.7 has been a popular spot of resistance now turned support (we have been there twice and rebounded, but peeps are waiting on the GEMD announcement and some are clearly losing patience. I think the CEO and CDX have made a rod for their own back in this regard and pinpointing a 1Q19 announcement just elevated expectations too high. The medtech/biotech world is full of missed deadlines, CDX will likely be no different in this regards - and VC's tend to be more bullish than most around expectations.
Slightly off topic, but if you want a good read, research Theranos and the book bad Blood (soon to be a movie); clear example of a 'unicorn' med tech going bad. This is not at all putting CDX in the same boat, but is an interesting read into the mindset of silicon valley VC's (off which we have one as CEO).
Back to the chart, have noted the support/resistance at 4.7 (tested again) and with some bullish divergence on the 1hr forming (highlighted) and already formed on the 15m. This is a tentative buy signal for me and if I wasn't already 'full as a bull', I would add a parcel here.
Cheers
Charlie
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