NEW BULLISH Plays
Celldex Therapeutics - CLDX - close: 29.39 change: +1.07
Stop Loss: 27.90
Current Gain/Loss: unopened
Entry on January -- at $--.--
Listed on January 21, 2014
Time Frame: exit PRIOR to earnings in late February
Average Daily Volume = 2.0 million
New Positions: Yes, see below
Why We Like It:
CLDX is in the biotech industry. Right now biotechs are a popular spot to be for market bulls.
CLDX's staggering rally in 2013 peaked back in October. Since then the stock
saw a -40% correction from its highs and spent weeks building a new base of support. The last couple of weeks have produced a sharp rebound back toward resistance near $30.00. If this rally continues CLDX could see some short covering.
Biotechs can be volatile and I am labeling this an aggressive, higher-risk trade. Tonight we're suggesting a trigger to open small bullish positions at $30.15. If triggered our target is $36.00.
FYI: Currently the Point & Figure chart for CLDX is bearish but a move above $30.00 would create a new triple-top breakout buy signal.
NOTE: CLDX does have options for more aggressive traders.
Trigger @ 30.15 *small positions*
Suggested Position: buy CLDX stock @ (trigger)