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
Daily needs to break this megaphone formation
Time to go long. We do have an uptrend, a nice cross over of the moving averages. my stop in the low of today. and target two times my risk.
In the last few weeks there has been quite a lot of movement in shares of Chimerix Inc (NASDAQ:CMRX). This company reportedly had a drug that would help fight the nasty Ebola virus. Once the market caught wind of this, Chimerix Inc (NASDAQ:CMRX) shot up nearly 50% in a few trading sessions. Since making a high of $36.75 the share price has dropped about 20% as the...