CYMABAY THERAPEUTICS INC. - COMMON STOCK NASDAQ:​CBAY

Looking for an entry to go long? follow my support and resistance calculation market on the chart

CBAY: cymabay therapeutics 2018-04-11 07:46:48 Detected possible positive results in drug trial

CBAY looks like it is bound for a break out. It has formed a wedge pattern and has tested the resistance line 6 times since August. The target price is $14.50 while the present price is $9.90. This offers a potential 46% reward. Now as it has just reached a resistance line, a break above this line will be considered bullish and hopefully drive this stock up.

The chart is beautiful

As we see in the H4 timeframe, price was forming a cup, and right now is forming the handle. Since the price already came back from the support, we have good chances it will reach the top of that channel. If we are lucky, it will even break the resistance, and perform a good breakout to the top. We have had higher highs, and higher lows and even the EMA 200 is ...

above $4.40

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