CARA (Cara Therapeutics) will offer an objective (and aggressive) long entry on a solid break above the downtrend line & intersecting 0.83 resistance. Daily chart below.
CARA daily Feb 23rd
As a penny stock & counter-trend trade, this should be consider a very aggressive, gunslinger-type trade. As always, pass on trades that don’t mesh with your risk-tolerance, objectives, or outlook for that particular security. Due to the above-average gain/loss potential, should CARA trigger an entry, the suggested beta-adjusted position size on this trade is 0.35. Suggested stops inline with one’s preferred price target(s), which are shown at the arrow breaks. (actual resistance levels, always best to sell just shy of the resistance you are targeting in case the sellers step in early).