Catalyst Pharmaceuticals (NASDAQ: CPRX) remains poised at the lower trendline of a well-defined ascending channel, trading in the $20.60–$21.00 area. The setup to monitor now is a daily close above $22.10, which would signal a real breakout through the $21.82–$22.11 resistance zone. A decisive push above that level opens the door for a test of the channel’s upper boundary near $27–$28.
💡 Trade Plan:
Trigger: Go long on a confirmed daily close above $22.10
Targets:
First: Mid-channel resistance around $24.50
Stretch: Upper-channel target of $27–$28
Stop‑Loss: Place below the channel base, ideally under $20.50 to manage risk
Why It Works:
TL;DR:
Watching for a breakout above $22.10—that’s your entry trigger. Aim for $24.50, then $27–$28, with a stop under $20.50 if support fails.
💡 Trade Plan:
Trigger: Go long on a confirmed daily close above $22.10
Targets:
First: Mid-channel resistance around $24.50
Stretch: Upper-channel target of $27–$28
Stop‑Loss: Place below the channel base, ideally under $20.50 to manage risk
Why It Works:
- Clear structure: Ascending channel with multiple supports provides clarity on entries and exits .
- Momentum catalyst: Breaching the $21.8–$22.1 zone suggests fresh upside momentum.
- Reward setup: A small stop near channel support offers a favorable risk/reward targeting channel top.
TL;DR:
Watching for a breakout above $22.10—that’s your entry trigger. Aim for $24.50, then $27–$28, with a stop under $20.50 if support fails.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.