CytoDyn Inc (OTCMKTS:CYDY) Stock Turns Bearish After The Recent Fall

It has been a pretty tough time for CytoDyn Inc (OTCMKTS:CYDY) in recent days and that can be ascertained from the fact that its stock price has declined by as much as 14% over the course of the past week.

Despite that, the company made an important announcement yesterday. CytoDyn announced that some of its top executives, including the President and Chief Executive Officer Nader Pourhassan, are going to host a webcast for the investment community on June 21, 2021.

It is a significant announcement since it is going to clear the air about a lot of issues about the company and will also give existing as well as potential investors a clearer picture about CytoDyn’s business. There is expected to be a discussion with regards to the data derived from the COVID 19 long haulers trial. On top of that, the executives are also going to provide updates with regards to COVID 19 trials that are in progress in other nations.

Market Reaction:

On Wednesday, CYDY fell by 4.50% to $1.70 with more than 2.63 million shares, compared to  its average volume of 3.20 million shares. The stock has moved within a range of $1.6900 – 1.8000 after opening the trade at $1.80. CYDY stock has fallen over 70% so far this year.

Moving Averages

+/- EMA(20)2.04 (-16.67%)
+/- SMA(50)2.56 (-33.59%)
+/- SMA(200)3.46 (-50.87%)
Pivot Points
NameS3S2S1Pivot PointsR1R2R3

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