CRBP trade ideas
short term wave correction comingshort term correction towards $5 coming, load up at $5-5.25, wave count from about a month ago remains on the chart
3/31/20: Interim update to my chart last weekSo I left my wave pattern on my chart from last week, untouched, you can see we are hitting an interim resistance at our last .382 resistance zone, well technically on a weekly timeframe the body was rejected, though on an intraweek basis we formed a wick....until Friday hits the candle formation is not complete. it's around $5.27, we need a weekly close above $5.27, but really above $6.00 for me to feel comfortable. Our next major resistance that should prop us up towards the $7 to $8 rang before trendline resistance is $6.27 IMO
Bullish over the coming weeks, need $5.30 weekly close or moreBullish over the coming weeks, need $5.30 weekly close or more, estimated weekly chart attached, bullish engulfing weekly close and technical divergence of oscillator points up, daily is somewhat overbought that's why I show a dip in wave A to an estimated .382/.618 intraday level of probably $4.00, before taking over over the coming weeks towards higher levels..
CORBUS PHARMACEUTICALS HOLDING (CRBP) WeeklyDates in the future with the highest probability for price direction reversals
Corbus Pharmaceuticals Holdings, Inc. (CRBP) long.All description on the chart.
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CRBP long term long positioning $crbpLong prediction. This is based on the MJ etf reversing it's downtrend, once that happens (which I think will be very soon) I plan to start trading this. $crbp
$CRBPSitting above weekly trendline support. Wait for trendline resistance breakout before going long.
Is CORBUS undervalued?At only $450mcap is Corbus Pharmaceuticals undervalued?
1) Corbus is different from other cannabis stocks as they are designing therapies around marijuana to treat fibrotic diseases. If these therapies work, some analysts put the value of their potential sales at $2bn a year.
2) At a small marketcap of $450m, Corbus could be a real untouched gem in the cannabis industry, compared to its competitors with $4bn+ marketcap.
3) After an agreement with Japananese Kaken Pharmaceutical, Corbus is on the way to receive an additional $173m upon achievement of various milestones
What Happened to Corbus Pharmaceuticals today?So Why did Corbus Pharmaceuticals drop by .63 (or 8.2%) today when it was a universal buy? Why on a day following a promising close (bullish engulfing)? Why at the close of a bullish week?
You don’t know …. hmmm …. well neither do I. But this I can tell you; It is still a buy in my book. “The one year price forecast for CRBP stock indicates that the average analyst price target is $24.33 per share. This means the stock has a potential increase of 231.02% from where the CRBP share price has been trading recently which is between $7.23 and $7.73” according to an article put out this afternoon by Find News.
Why it looked so good the day before it took the hit I can’t say. Why the whole sector took a hit today I can’t say. Why a negative article came out right before opening on an expectant day for shareholders I can’t say. What I can say Is I’m still long on Corbus; and since it is still trending above the 20 MA you might do well to watch for another good entrance. It may even gap up over the weekend, I can’t say (I would watch it early Monday morning to see where it goes).
What I can say is that I hope everyone looked before they lept this morning, and if you didn’t I hope you were just averaging in and simply raised your average a little (it happens), or dropped it as soon as you felt the edge of the blade (yeah that happens too). In any case the following adage helped me early on to determine what I would and wouldn’t be in the wild, wild west known as the financial markets:
Bulls know how to make money
And bears know how to make money too
But sheep just blindly follow along
While the hogs get slaughtered
What does that mean? I’m glad you asked. It means you can make money by longing the market, and by shorting it too, but do you own homework, and above all else don’t get greedy or you’ll get slaughtered.
It’s just the way it is…good luck with your trading!
Corbus Pharmaceuticals Picking Up MomentumCorbus Pharma has just crossed the 20 day MA and is now crossing the 50 day. It had plenty of momentum at today' close as can be seen by the bullish engulfing candle and the volume. The Macd is fully bullish without the gulf being so wide as to be unsustainable, and the RSI is below 60. All in all here looks to be plenty of room to move up; as much 10% to 12% before we could even get close to being overbought bought if we did it in a day! Even more if it moved a little slower. IMO this is a very good trade just itching to be made; but of course this is not financial advice. Do your own homework and good luck trading!
Ichimoku plus fibonacci resistance ST Target $7.34Ichimoku cloud resistance combined with Fib retracement of .618 has a short term swing trade target at $7.34, clearing this will lead us to $7.75 zone. We need to break above $8 for short term bear pressure releaf. We need a solid break and muliday closes above $9 to put our bull trend back in track and a continuation of our higher order trend in place towards the mid teens
a break of 5.75 could lead us to 4.40 but i don't think it willa break of 5.75 could lead us to 4.40 but i don't think it will
Short on Corbus Pharmaceuticals Holding A major pull back from the last candle on the 1W chart. If the price wants to keep rising, it must pass a least 3 resistance levels. As we can see on the 1D chart, the price dropped after touching the first resistance level and looks like an opportunity to go short. Stoch RSI also shows like the price will fall.
