CODX Trade on Mar 12, 2020 13:45 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
PR on Coronavirus: Co-Diagnostics, Inc. Designs Test for New Coronavirus Using CoPrimer Platform
Receives CE (Europe approved) Mark for Novel Coronavirus Test
March 11 2020: WHO officially calls COVID-19 a global pandemic

Technical Analysis

-Intraday pattern: Gap and Crap
-Held up well in PM but sold off all day as market was consolidating at these new lows
-Levels: 11.50, 12.50, 14, 15.50, 17

Original Plan / Strategy

First test short of 12.50 level with half dollar confluence

Review

Was waiting for this trade to setup but some big player covered their position causing an instant $1 up move. My fantasy order at 12.47 got hit so I slowly scaled out as best I could by spacing out my exits 2 minutes apart. Did not hold long enough to capture the break down towards 11.70 (prior resistance).