CERE daily Feb 19th
CERE (Ceres Inc.) will trigger a long entry on a break above 0.30, which is yesterday’s high as well as the blue secondary downtrend line on this 3-year daily chart. CERE should be considered a very aggressive (high gain/loss potential) trade.
The first target, T1, is the dark red downtrend line (a moving target) with the final target, T2, set at 0.46 cents (4 cents below the actual resistance level of 0.50). Besides the fact that this is a counter-trend trade, with CERE clearly in a bear market/primary downtrend, CERE is also a penny stock.CERE was bumped down from the Nasdaq Global Market to the Nasdaq Capital Market on Oct 27th for failing to the listing requirements maintaining a $1.00 share price and now faces delisting from the Nasdaq if the stock does not regain the $1.00 level by April 27th (which they intend to do via a reverse split).
I’m not sure if they’ve announced the reverse split yet but that’s a likely possibility in the near future & so if and when that happens, assuming the trade is active at the time, the price targets would simply be adjusted accordingly. As with all aggressive, potentially volatile trades, consider the appropriate downward adjustment to your position size or passing if this type of trade does not fit your risk tolerance or trading objectives.