CareDx (CDNA) is ADXodus Setup Example
This stock could break out strong.
CareDx (CDNA) has a classic ADXodus pattern. ADX has been low, under 25 or over 30 bars. Both DMIs are above ADX and moving sideways in a "twisty tie" pattern.
Price is coiled up in a spring, forming a triangle pattern. CNDA penetrated above the upper resistance line today. The +DMI is moving higher, above the 25 (strength) level. It is stronger than the last -DMI high, making this a "crossover high" signal.
The stock reports earnings in March (I think on 22 March, but not confirmed).
Generally, descending resistance lines get retested, so we could see a little pullback. But right now, the stock appeas to be testing a move higher and could break out of the 5-month consolidation.
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