Opened a long position today at 3.70. Stop Loss is at $3.55. Hopefully at least, we will see a test of the resistance at the bottom of the gap. The goal is to let it ride through the gap. If the move shy at resistance I will take profits and add it back to my watch list.
CERS ascending triangle breakout pattern in reaction to earnings is now providing support on this recent pullback. I’ll be looking for a move through 3.70 (3.60 stop) in anticipation of another test of the $4 level.
Watching CERS tomorrow for a continuation move towards the May 4th gap. CERS has had strong momentum recently after its very successful earnings call. Look for the move over 4 to 4.20, be careful of a $4 rejection. Looking for 10-20c. Im in from a previous position at 3.72.
CERS is doing higher highs approaching to its earning day. This is a risky trade, but risk is a friend of reward. Manage your trade by putting a limit buy order at 2.90, a tight stop loss at 2.78, take profit at 4 or just below. Risk/Reward ratio = 7.7