I bought some CARA on Thursday and next Friday sold for 8 percent profit in one day i was lucky but i researched the chart and CARA has been stuck in this range at the start of the year and has only broke 7 dollars once.I think it could go back to 5.50 within the week .MACD is at .16 which is low but this has a history of hitting 6.70 at 0.16 on the MACD on...
Should the Support @ 4.9$ not hold, a further downwave can be exspected. TP1 could be 4,3$ / TP2: 3,5$
The Chart only brightens with trading above 6,6$.
At this moment, we can't really determine, based on how NASDAQ:CARA played out this morning, whether or not the market will continue along the larger channel or degenerate below 6$ price range, playing out a new trading topology. For now, we will stay conservative, keep the 3% price movement winnings from this morning in our pockets and wait until the smaller...
Unless something crazy happens, CARA is poised to move into the 8$ range over the coming weeks.The pullback point is almost perfectly aligned with the long term Fibonacci pivot at 6.30 interestingly enough. Our profit target should be in the area of 6.70-6.90 or a 6-10% gain respectively, expect this to play out over the next few days.
NASDAQ:CARA
The MACD crossed.
CCI is approaching the top.
%R is approaching the top.
Relative Strength is good.
Money flow is even.
Weekly cloud is way above.
Next stop, 50 day moving average.
Sometimes you have to watch if the stock is below the 50 day moving average, get our book for the reasons why. ( Pennies to Thousands ), also, watch our Youtube.
