$Corvus Pharmaceuticals (CRVS.US)$ ๐ ๐ Corvus Pharmaceuti...
$Corvus Pharmaceuticals (CRVS.US)$ ๐ ๐
Corvus Pharmaceuticals Inc. carries a moderately high risk level, given its mixed fundamentals and recent volatility. Although positive analyst sentiment and a key drug catalyst suggest potential upward movement, the company's financials signal instability with negative earnings and high cash burn. The stockโs position below its 52-week high with an ongoing sector underperformance adds to the unpredictability. Moreover, the biotechnology sector can present significant volatility, contributing to the stock's risk profile. Investors interested in this stock should be comfortable with potential fluctuations and carefully consider their risk tolerance before committing capital.
Support and Resistance Levels
Support Level: Identified at $8.33, reflecting the recent breakout price and clear support post-consolidation.
Resistance Level: The previous high at $9.08 serves as the primary resistance, aligning closely with the 52-week high.
Important Levels: Historical candle highs such as $8.96 and lows like $7.69 have been used to ascertain volatility.
Support Level: Identified at $8.33, reflecting the recent breakout price and clear support post-consolidation.
Resistance Level: The previous high at $9.08 serves as the primary resistance, aligning closely with the 52-week high.
Important Levels: Historical candle highs such as $8.96 and lows like $7.69 have been used to ascertain volatility.
Stretegy
Entry : $8.50 dip
๐: $7.344
Exit Plan : $12.515
Allocation: 15.7%
R:R= 1:3.47
Corvus Pharmaceuticals offers an enticing swing trade through its promising drug development and recent upgrade by analysts, hinting at potential price gains. While its profitability metrics are less favorable, swing traders can still gain from its clear breakout signals and sector dynamics. Being positioned in the biotech sector, known for volatility, ensures that traders can capitalize on short-term movements. Overall, while there is risk involved, the positive catalyst from the lead drug and recommendation upgrades makes CRVS a worthwhile consideration for a swing trade.
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#part time trader trying so hard to make full time income whatever strategy works then I donโt have to work anymore.
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