Pulling back for a longer term view, this is looking really promising. Bear in mind that after today its effectively gone from 2c to 6c in a short space of time, so its going to need to take a moment to catch its breath IMO
The 6c to 7c may be a challenge to get through as it may prove an area of resistance based on price action in early 2019.
My own view though is that, things have changed in the overall market and with the Company's progress, such that I'm looking at higher targets, around 12c within 6 to 9 months which would put market cap at roughly $100million. That sort of price also makes the oppies well in the money. In fact, they are technically in the money tonight with a strike price of 5c. If momentum is sustained the Cmpany should receive further cash injections. Whether this move is orchestrated to do that, or is a genuine interest in the stock from new sets of eyes remains to be seen. Anyone whos been here more than 12 months will be well aware of the history, so tread cautiously
The biotech /healthcare space has seen huge amounts of money flood in over the past 12 months- its been a sectoral movement. CDX's FDA approved device is already generating some revenue, and with big name pharma companies, however the whole pivot to sensors that can ultimately be built into other "watch" devices is extremely lucrative in the move to personalized healthcare. The possibility of Drs and medical professionals being able to monitor more accurately, and remotely, with "tech devices" has the potential to save millions if not billions of dollars across the entire sector with all the developments that are occurring just now, of which CDX is just one part. Western governments in particular are going to jump on technology to reduce the massive costs to society and for poorer nations, might potentially provide new healthcare solutions, perhaps for the first time.
There really are some blue sky opportunities around
CDX Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
