Updated
Corindus Vascular Robotics Inc. - NYSE: $CVRS Consolidating
TECHNICAL
After breaking-out in early Spring (March) and subsequently digesting the move, CVRS broke-out once again last month (May) on enormous volume and now finds itself consolidating in a very constructive manner on lower volume as evidenced in the Daily chart above.
With the stock trading just beneath its 20 DMA, yet comfortably above both its 50 and 200 DMA's, the technical picture remains positive, while the recent move into northern territory is absorbed.
With that said, it now appears that it is only a matter of time before CVRS embarks on yet another potential leg higher.
Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead as the recent consolidation comes to a conclusion with a possible break for greener pastures and a move topside of 3.10 likely triggering its next meaningful advance.
After breaking-out in early Spring (March) and subsequently digesting the move, CVRS broke-out once again last month (May) on enormous volume and now finds itself consolidating in a very constructive manner on lower volume as evidenced in the Daily chart above.
With the stock trading just beneath its 20 DMA, yet comfortably above both its 50 and 200 DMA's, the technical picture remains positive, while the recent move into northern territory is absorbed.
With that said, it now appears that it is only a matter of time before CVRS embarks on yet another potential leg higher.
Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead as the recent consolidation comes to a conclusion with a possible break for greener pastures and a move topside of 3.10 likely triggering its next meaningful advance.
Trade closed: target reached
CVRX explodes higher today. Stock up 75% today.Congrats to all who participated!
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.