An overview of some of the recent individual stock & sector trade ideas, both long & short, shared on Right Side Of The Chart. For those wanting to skip ahead to a particular trade idea, the following stocks & ETFs are covered in this order: CARA, TEVA, USRM, CLVS, NVDA, LI.V, LIACF, PBYI, PTLA, TINY, FCEL, HIMX, SMH, XSD, SOXX, XLF, GLD & GDX.
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 [...]
The CLVS (Clovis Oncology) Active Short Trade broke down below the 60.47 minor support level today, bringing the trade to an 8.3% gain before reversing & currently back-testing the former support, now resistance level from below. Previous & updated 60-minute charts: Today's reversal in CLVS, with the stock profitable by 8.3% at the lows, occurred on a tag of the 130-period EMA which often acts as support or resistance when tested from above or below. As with most support levels, a reaction off the initial tag from above is quite common although my expectation is that any bounce will [...]
CLVS (Clovis Oncology) gapped below this 60-minute bearish rising wedge today & is currently backtesting it from below, thereby offering an objective short entry with a stop on a 60-minute close above 68.50. Zooming out to the daily time frame, CLVS has run into significant resistance while oversold & with negative divergences in place. Overbought, at resistance with divergences in place. As with any trade, this one may or may not pan out but certainly seems very objective & offers an above average R/R based on the suggested stop & the final price target (one might consider a more [...]
The CLVS (Clovis Oncology Inc) short trade has hit the sole price target for a 25.4% profit & will now be moved to the Completed Trades category. Consider booking full profits or at least lowering stops if holding out for additional gains. For those preferring to lower stops & try to eek out some more gains on this trade, CLVS has gap support at 25.43, which could act a possible reversal point (placing BTC order set slightly above). Original & updated 60 minute charts:
The CLVS (Clovis Oncology Inc) Active Short Trade is trading sharply lower in pre-market, as low as 25.20 so far vs. the sole price target of 26.61. One could close the short trade here in pre-market in excess of that target or wait until the open & close the position, possibly getting an even better fill as the opening order imbalances could bring the stock below current pre-market levels (or they could buy the stock up). T1 at 26.61 remains the final target although as with all trade ideas, if a trade gaps beyond a profit target (or stop), the opening [...]
The following charts & notes outline the entry criterion, price target & suggested stop-loss for a swing trade in CLVS, Clovis Oncology Inc.