The current price is at a discount to the YTD POC level and yesterday's candle tested the .50 fibonacci level to close slightly higher. Also the MACD remains positive and the RSI is still relatively cool at 51.78.
I would like to see CERC hold the 2.90 level to continue its up trend.
Short term target: 3.16, 3.53
Cerc is very oversold with an RSI of 37. It appears to have found support on the weekly trend line and yesterday it closed above the 0 fibonacci level. With the POC line YTD at $3.18 and the MACD startingto curl up I think this is a low risk entry for a long swing.
target: $2.71, $3, $3.36, $3.65 in the short term.
I am not short nor will I initiate a short position in this stock. This is just for educational purposes to train your eye for patterns. Notice there is a major H&S pattern followed by a minor pattern beneath the H&S. This is an example of a high probability set-up.
I will not take this trade because I don't short low market cap/low volume penny stocks like...
Cerecor, Inc. engages in the development and commercialization of treatments for rare pediatric and orphan diseases. Its lead product candidates include CERC-801, CERC-802, and CERC-803, which are therapies for inherited metabolic disorders known as Congenital Disorders of Glycosylation. The company was founded by Blake M. Paterson, Isaac Blech, Barbara S....
Contextual immersion trading strategy idea.
Cerecor Inc., a pharmaceutical company, focuses on pediatric health care.
The company announced it has received clearance from the U.S. Food and Drug Administration (FDA) to proceed with a proof-of-concept clinical trial of its anti-LIGHT monoclonal antibody CERC-002 in patients with COVID-19 cytokine storm induced...
Recently there was an increase in activity of insiders for CERC (Armistice Capital purchased $3.9 million a few days ago).
The stock was downgraded late 2016 by Rodman & Renshaw to $1 but it recovered very nicely since then.