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CMRX - Recent buying 2 new insider purchases at $1.50-$1.76. Looking to break 1.93. Momentum play with first target at 2.43. Stop signal 1.67.
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...
CMRX looks very bullish in this last move, but it is near the long term resistance. If it fails breaking out and consolidating above the trendline you can look for a short setup.
$CMRX, waiting for a pullback to 50MA before potential breakout