After breaking higher in early April on large volume, Chimerix Inc. (NASDAQ:CMRX) spent the next several weeks digesting/consolidating the move before breaking higher yet again last month (May) and in the process, recapturing its 200 DMA as evidenced in the Daily chart above.
With the stock presently trading above all of its important moving averages (20/50/200 DMA's), CMRX remains in a favorable technical posture.
Moving forward, should CMRX be capable of clearing the $3.80 hurdle, such development would likely trigger its next advance into higher ground.
Nevertheless, CMRX remains in decent shape from a technical lens and both investors/traders may want to continue to monitor the action closely in the days/weeks ahead.
With the stock presently trading above all of its important moving averages (20/50/200 DMA's), CMRX remains in a favorable technical posture.
Moving forward, should CMRX be capable of clearing the $3.80 hurdle, such development would likely trigger its next advance into higher ground.
Nevertheless, CMRX remains in decent shape from a technical lens and both investors/traders may want to continue to monitor the action closely in the days/weeks ahead.
To receive our alerts via email and SMS, join Insider Financial for Free at signup.insiderfinancial.com
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/