Corbus Pharmaceuticals Picking Up Momentum

Corbus Pharma has just crossed the 20 day MA and is now crossing the 50 day. It had plenty of momentum at today' close as can be seen by the bullish engulfing candle and the volume . The Macd is fully bullish without the gulf being so wide as to be unsustainable, and the RSI is below 60. All in all here looks to be plenty of room to move up; as much 10% to 12% before we could even get close to being overbought bought if we did it in a day! Even more if it moved a little slower. IMO this is a very good trade just itching to be made; but of course this is not financial advice. Do your own homework and good luck trading!
If you have a position, I read that they have a target of $0.50.
This is why I never "day trade" the MJ sector, but rather trade based on solid TA. You see day trading is more than just learning not to chase prices, or catch falling knives; it's often about dodging the ones thrown at you. Take this stocks daily movement as a prime example. It has been rated a strong buy repeatedly. Anybody that knows TA knows a good entry when they see one, and this was one . And of course we all know that nothing is absolute in the the financial markets too, but just 4 hours ago an article came out that was titled "Stocks Getting Far Too Much Hype: Corbus Pharmaceuticals Holdings, Inc. (CRBP), Jones Energy, Inc. (JONE)" and walla a day traders nightmare.

I've noticed this happening far, far too often with regard to stocks that are either part of or related to the MJ industry. Coincidence? I didn't believe it at first; but, I'm starting to wonder? In any case chalk this one up as a learning experience if your new to trading. A good day trader would have dropped it hours ago, another type of trader may or may not have. I believe it will go back up rather quickly just like it always does with ACB, Canopy Growth, or one of the many others; the MJ industry has is own personality to be sure...we will see. Good luck out there!

RonVau RonVau
@RonVau, And no I did not really mean "catch falling knives" that "not catching" :)
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