Technical Outlook Video for Corbus $CRBP and Progenics $PGNX Stocks Week 5th April
Today we will be looking at the the pharmaceutical companies today for our stock analysis. We will be viewing both the hot movers of the day on stocktwits.com of Corbus ($CRBP) and Progenics($PGNX) today.
On Corbus $CRBP, overall it sideways and has been since last October. The most recent retest of the highs at 10.78 have failed and we are looking for price to push down. I’m expecting a retest back down to right around $6.00. We will see how strong the demand zone is down there. Now that we have been in that range for such a long time, I’m expecting price to break $6 and continue on down. On the four hour time-frame, we can see price has some support at 6.73- 6.15 in a four hour demand zone. I really would not be surprised to see price continue that move.
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On Progenics $PGNX this coming week, I’m looking for price to retest the $9.00 demand zone as price is in a pullback area. Iit could be just a nice flip flop of supply / demand. On the way down, price does have a few different demand zone to power through before it can complete the move. However, not all zones are created equally. From my perspective, a retracement back down to $9 from 11.77 would be just another pullback in the overall up trend. Bottom line is here is a stock that is looking like it’s going to give investors a good pullback. All we have to do is wait for price to make the move then jump on board.
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