What Happened to Corbus Pharmaceuticals today?
So Why did Corbus Pharmaceuticals drop by .63 (or 8.2%) today when it was a universal buy? Why on a day following a promising close (bullish engulfing)? Why at the close of a bullish week?
You don’t know …. hmmm …. well neither do I. But this I can tell you; It is still a buy in my book. “The one year price forecast for CRBP stock indicates that the average analyst price target is $24.33 per share. This means the stock has a potential increase of 231.02% from where the CRBP share price has been trading recently which is between $7.23 and $7.73” according to an article put out this afternoon by Find News.
Why it looked so good the day before it took the hit I can’t say. Why the whole sector took a hit today I can’t say. Why a negative article came out right before opening on an expectant day for shareholders I can’t say. What I can say Is I’m still long on Corbus; and since it is still trending above the 20 MA you might do well to watch for another good entrance. It may even gap up over the weekend, I can’t say (I would watch it early Monday morning to see where it goes).
What I can say is that I hope everyone looked before they lept this morning, and if you didn’t I hope you were just averaging in and simply raised your average a little (it happens), or dropped it as soon as you felt the edge of the blade (yeah that happens too). In any case the following adage helped me early on to determine what I would and wouldn’t be in the wild, wild west known as the financial markets:
Bulls know how to make money
And bears know how to make money too
But sheep just blindly follow along
While the hogs get slaughtered
What does that mean? I’m glad you asked. It means you can make money by longing the market, and by shorting it too, but do you own homework, and above all else don’t get greedy or you’ll get slaughtered.
It’s just the way it is…good luck with your trading!
You don’t know …. hmmm …. well neither do I. But this I can tell you; It is still a buy in my book. “The one year price forecast for CRBP stock indicates that the average analyst price target is $24.33 per share. This means the stock has a potential increase of 231.02% from where the CRBP share price has been trading recently which is between $7.23 and $7.73” according to an article put out this afternoon by Find News.
Why it looked so good the day before it took the hit I can’t say. Why the whole sector took a hit today I can’t say. Why a negative article came out right before opening on an expectant day for shareholders I can’t say. What I can say Is I’m still long on Corbus; and since it is still trending above the 20 MA you might do well to watch for another good entrance. It may even gap up over the weekend, I can’t say (I would watch it early Monday morning to see where it goes).
What I can say is that I hope everyone looked before they lept this morning, and if you didn’t I hope you were just averaging in and simply raised your average a little (it happens), or dropped it as soon as you felt the edge of the blade (yeah that happens too). In any case the following adage helped me early on to determine what I would and wouldn’t be in the wild, wild west known as the financial markets:
Bulls know how to make money
And bears know how to make money too
But sheep just blindly follow along
While the hogs get slaughtered
What does that mean? I’m glad you asked. It means you can make money by longing the market, and by shorting it too, but do you own homework, and above all else don’t get greedy or you’ll get slaughtered.
It’s just the way it is…good luck with your trading!