The probability of what I analyzing, is to be true unless the opposite is proven
According to my analysis, this is my opinion about weekly chart for CORBUS PHARMACEUTICALS HOLDINGS (CRBP)
Feel free dear trader to share with me your opinion, and also your analysis & Keep Watching
Been watching this stock for a bit. It finally is about to cross 200MA a strong indicator that it will pop soon and it's jumping (crossed above $2.5 about two days ago and touching $2 now. Put your bets in....timing is everything and it's starting to get hot!
About the Tickers: Corbus Pharmaceuticals Holdings, Inc. NASDAQ:CRBP is a clinical-stage company focused on the development and commercialization of novel medicines designed to target the endocannabinoid system. The Company’s lead product candidate, lenabasum, is a novel, oral, selective cannabinoid receptor type 2 (CB2) agonist designed to provide an...
The stock has been above $5 most of the time.
It is only that Lenbasaum, their leading drug, has failed in one of the clinical studies, that is why the stock plummeted in Sep 2020.
Nonetheless, they have couple others ongoing studies and they may have a chance to recover to pre-covid levels.
Before the September news their ratings were Buy and Outperform at $12,...
As volume increases and price action shows an agreement that's in sync with the micro bullish channel that started back in January, the chances of breaking R1 and R2 seem more prevalent. My focus would be the price range in between the previous gap-down. I may trade into crbp pre market Wednesday to initiate an intraweek- intra quarter swing trade.
Been adding on dips since Monday playing it as sympathy play of other cannabis stocks that are ripping, plus there's a huge gap to be filled if we can get a bullish candle over $3 that's when the scanners come in.
The volume has been increasing and creating higher lows on the hourly chart it tapped 3.04 today but got rejected quick once we get a nice pop this...
I am in this just because of the gigantic gap. Target is $4, with a chance (if it gets volume) to run up close to $6 which is where the last offering was.
No reason to do a bunch of DD or anything on this -I am simply playing the chart. Its going to run or its not....Stop loss during market hours, keep alerts on it during after hours.
TRADE YOUR PLAN.
CRBP looks like it's gaining a lot of positive attraction breaking previous sideways support and resistance.
Needs to break resistance @$2.55 and create a support to gain confidence for the bulls to drive up to pre-covid.
Do your own research as always but I'll be putting an order in @2.55 with a stop loss of 10% of that.
Open to thoughts and opinions on this...