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CLVS Trade Entry & Setup

CLVS (Clovis Oncology Inc) has failed on the recent attempt to enter & hold within the massive late 2015 gap following a parabolic run/225% advance off the late June lows. As such, the stock offers an objective, yet aggressive short entry here for a swing trade down to the 26 area (T1 at 26.61) with a stop above 38.74. As the risk of going long or short a biotech stock due to the above average risk of large opening gaps from clinical trials, the suggested beta-adjustment for this trade is 0.50 (i.e.: one-half of a typical position size). Today's breakdown below this 60-minute rising wedge pattern, confirmed with negative divergence on the PPO & RSI, help to confirm the short entry here on CLVS.

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Sep 28, 2016 11:55am|Categories: Completed Trades - Short|Tags: |2 Comments

2 Comments

  1. snp September 28, 2016 1:31 pm at 1:31 pm

    get long back down at 34. this will go to 50.

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  2. rsotc October 5, 2016 9:52 am at 9:52 am

    The CLVS Active Short has been hovering above the 33.30-33.50 support level for the past few trading sessions following the 60-minute wedge breakdown. A break & 60 minute close below 33.30 would offer another objective short entry or add-on & likely spark the next wave of selling down towards the 26.61 price target. 60-minute trend indicators remain bearish (below zero lines).

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