GAP REVIEW

On November 17th, 2014, CLDX gapped up and closed over the 200-day moving average for the first time since March of 2014. The surge of the gap-up created a huge interest in the stock, as it traded over ten times its daily average volume. 

Petersen.jpg

This shows us large institutions were picking up shares for a bigger move in the coming days.  The gap up was a reaction to news that CLDX reported positive results from its phase-three study for its brain cancer drug.

KEY LEVEL

Demand exists into $19.65 from the gap day low.  Supply exists overhead into $25.00.

THE TRADE

  • Long at $18.05
  • Stop under $16.00 
  • Target the $25.00- $32.00 area.

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