Co Diagnostics Stock Technical Analysis

CODX
 Stock
  

USD 3.01  0.02  0.67%   

As of the 30th of November, Co Diagnostics owns the Market Risk Adjusted Performance of (0.17), standard deviation of 3.37, and Coefficient Of Variation of (1,661). Co-Diagnostics technical analysis gives you the methodology to make use of past data patterns to determine a pattern that approximates the direction of the firm's future prices. Strictly speaking, you can use this information to find out if the firm will indeed mirror its model of historical prices and volume patterns, or the prices will eventually revert. We were able to break down nineteen technical drivers for Co Diagnostics, which can be compared to its peers in the sector. Please confirm Co-Diagnostics standard deviation, as well as the relationship between the maximum drawdown and expected short fall to decide if Co-Diagnostics is priced more or less accurately, providing market reflects its prevailing price of 3.01 per share. Given that Co-Diagnostics has jensen alpha of (0.30), we suggest you to validate Co Diagnostics's latest market performance to make sure the company can sustain itself in the future.
  

Co Diagnostics Momentum Analysis

Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Co Diagnostics, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to Co Diagnostics
Co Diagnostics' Momentum analyses are specifically helpful, as they help investors time the market using mark points where the market can reverse. The reversal spots are usually identified through divergence between price movement and momentum.

Co Diagnostics Analyst Consensus

Target PriceAdvice# of Analysts
22.0Buy2Odds
Co-Diagnostics current and past analyst recommendations published by a number of research institutions as well as average analyst consensus.
Most Co Diagnostics analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand Co Diagnostics stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of Co-Diagnostics, talking to its executives and customers, or listening to Co Diagnostics conference calls.
Co Diagnostics Analyst Advice Details
Co Diagnostics technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Co Diagnostics technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Co Diagnostics trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...

Co-Diagnostics Technical Analysis

Indicator
The output start index for this execution was one with a total number of output elements of sixty. The True Range is a measure of Co-Diagnostics volatility developed by Welles Wilder.
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Co-Diagnostics Trend Analysis

Use this graph to draw trend lines for Co-Diagnostics. You can use it to identify possible trend reversals for Co Diagnostics as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Co Diagnostics price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.

Co Diagnostics Best Fit Change Line

The following chart estimates an ordinary least squares regression model for Co-Diagnostics applied against its price change over selected period. The best fit line has a slop of   0.005516  , which means Co-Diagnostics will continue generating value for investors. It has 122 observation points and a regression sum of squares at 1.15, which is the sum of squared deviations for the predicted Co Diagnostics price change compared to its average price change.

About Co Diagnostics Technical Analysis

The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Co-Diagnostics on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Co-Diagnostics based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Co-Diagnostics price pattern first instead of the macroeconomic environment surrounding Co-Diagnostics. By analyzing Co Diagnostics's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Co Diagnostics's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Co Diagnostics specific price patterns or momentum indicators. Please read more on our technical analysis page.

Co Diagnostics November 30, 2022 Technical Indicators

Most technical analysis of Co Diagnostics help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Co Diagnostics from various momentum indicators to cycle indicators. When you analyze Co Diagnostics charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.

Co Diagnostics November 30, 2022 Daily Trend Indicators

Traders often use several different daily volumes and price technical indicators to supplement a more traditional technical analysis when analyzing securities such as Co Diagnostics stock. With literally thousands of different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.
Continue to Trending Equities. Note that the Co-Diagnostics information on this page should be used as a complementary analysis to other Co Diagnostics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

Complementary Tools for Co Diagnostics Stock analysis

When running Co-Diagnostics price analysis, check to measure Co Diagnostics' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Co Diagnostics is operating at the current time. Most of Co Diagnostics' value examination focuses on studying past and present price action to predict the probability of Co Diagnostics' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Co Diagnostics' price. Additionally, you may evaluate how the addition of Co Diagnostics to your portfolios can decrease your overall portfolio volatility.
Analyst Recommendations
Analyst recommendations and target price estimates broken down by several categories
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Is Co Diagnostics' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Co Diagnostics. If investors know Co Diagnostics will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Co Diagnostics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.31
Market Capitalization
92.4 M
Quarterly Revenue Growth YOY
(0.83) 
Return On Assets
0.0467
Return On Equity
0.13
The market value of Co-Diagnostics is measured differently than its book value, which is the value of Co Diagnostics that is recorded on the company's balance sheet. Investors also form their own opinion of Co Diagnostics' value that differs from its market value or its book value, called intrinsic value, which is Co Diagnostics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Co Diagnostics' market value can be influenced by many factors that don't directly affect Co Diagnostics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Co Diagnostics' value and its price as these two are different measures arrived at by different means. Investors typically determine Co Diagnostics value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Co Diagnostics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.