CODX Trade on Mar 10, 2020 14:33 from beno: Tradervue User Stock Trades.

Fundamentals

As of: Sept 30 2019
Shares Outstanding (latest from broker): 17.3m
Cash: 2.544m (Jan 28 2020: +$5m closed offering, Feb 13 2020: $10.2m closed offering)
Current liabilities: 307k
Current ratio: 10
NWC (total current assets - total current liabilities): 2.777m
Accumulated deficit: 23.154m
Book value per share (Stock holder equity / Shares outstanding): 0.192
Monthly Burn rate (net cash used in operating activities / months): 433k
Estimated current cash: 15.58m (counting recent offerings)
Baby Shelf Exemption price per share: 4.33

Catalysts / News / Painting the picture

Enough cash for 35 months
$25m S-3 Aug 2018, $4.3m left
Prospectus 2019-02-04 for $5.5m @ $1.4
Warrants: 1m @ 2.73
PR on Coronavirus: Co-Diagnostics, Inc. Designs Test for New Coronavirus Using CoPrimer Platform
Receives CE (Europe approved) Mark for Novel Coronavirus Test

Technical Analysis

-Continued swing down side
-Levels: 5.60, 6.20, 7.50

Original Plan / Strategy

First Test of 6.20 level

Review

It was hard to bet big in this setup but I did honestly try. CODX didn't spend much time in the 6.20's so I could only get two lots before it started bouncing. I made the mistake of taking both lots off too early!

Lessons Learned:
1. Be more aggressive while sizing into A+ setups (hit the ask/bid if spread is decent)
2. Be patient with scaling out and wait for "waves" of buying selling pressure