CLVS (Clovis Oncology Inc) has traded mostly sideways since making a clean breakdown & backtest of the 60-minute bearish rising wedge while also failing at key resistance on the daily time frame. With earnings on deck for after the close of trading today, CLVS is likely to gap one way or the other tomorrow. As such, each trader should decided whether to hold, fold or hedge their position.
CLVS 60-min Feb 22nd
Currently CLVS is slightly profitable from entry but just keep in mind that this is a volatile stock prone to a history of relatively large gaps. As such, Clovis could quite possibly gap up beyond the suggested stop of a 60-minute close above 68.50 or down below the first target of 52.81.
@gaucho