CytoDyn (CYDY) Stock Gains 15% In a Week: Is Bearish Move Ending?

Through five days of this week, Cytodyn has got a chance to grow from $0.4250 to $0.4949. This move can’t be a signal for further growth as the company is still in cash-burning mode and recent news seems not coming soon. Developing leronlimab has been taking a lot of resources but some clinical trials could prove it is still most probably a viable drug to combat rare diseases like HIV, cancer, and coronavirus.

During the covid-19 pandemic’s initial years CYDY managed to trend in mainstream searches of financial fields. However, coronavirus isn’t making a buzz in the majority of news headlines since a war in Ukraine sounds much louder than the virus.

In a long run, CYDY is endangered to fall further unless good news brings new buyers. Even for short-run focused traders, the stock isn’t a great choice yet. It is very impossible to say Cytodyn is overthrowing the bearish move by inviting slow-walking bull.

If you are hoping for short squeeze growth in CYDY stock just look at what TradingView technical analysis suggests below.