In the last few weeks there has been quite a lot of movement in shares of Chimerix Inc (NASDAQ:CMRX). This company reportedly had a drug that would help fight the nasty Ebola virus. Once the market caught wind of this, Chimerix Inc (NASDAQ:CMRX) shot up nearly 50% in a few trading sessions. Since making a high of $36.75 the share price has dropped about 20% as the Ebola fears subsided and traders/investors took profits. So where is the stock of Chimerix Inc (NASDAQ:CMRX) headed? I have isolated two very good support levels at $25.75 and $22.75. These price targets should provide a substantial amount of support as these were the breakout levels and there are also some proprietary calculations which point to these numbers. My advice to those who wish to buy this company is to initiate a position at the first price level and then add at the lower level if it continues to sell off. This is a very volatile stock, so keep your position small and look be rewarded in a big way.
If you are looking for market guidance and direction, make sure it comes from the Elite Round Table. We have been giving members double digit returns in days in these volatile markets. Our FREE market emails contain information that can actually make you money for both short term trading and long term investing.
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader
If you are looking for market guidance and direction, make sure it comes from the Elite Round Table. We have been giving members double digit returns in days in these volatile markets. Our FREE market emails contain information that can actually make you money for both short term trading and long term investing.
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader