When markets are messy I like to explore long term bases in relatively unknown stocks.
CPRX has a 15 year base with contracting volatility in recent years, mostly since 2019.
I like the look of the quarterly chart and I like the volume markers on the daily - institutional funds have been progressively accumulating.
As all biotech stocks are highly speculative, position size needs to be taken down accordingly. This trade looks like the type of set-up that can be a multi-year hold if the stop is wide enough.
CPRX has a 15 year base with contracting volatility in recent years, mostly since 2019.
I like the look of the quarterly chart and I like the volume markers on the daily - institutional funds have been progressively accumulating.
As all biotech stocks are highly speculative, position size needs to be taken down accordingly. This trade looks like the type of set-up that can be a multi-year hold if the stop is wide enough.
Comment:
CPRX continue to hold where it needs to and retesting former all time highs when the market is under pressure. Something to keep watching closely
Comment:
Since CPRX broke out from this massive base it's been vertical. These are rare, especially in a market like 2022