Catalyst Pharmaceuticals (NASDAQ: CPRX) remains poised at the lower trendline of a well-defined ascending channel, trading in the $20.60–$21.00 area. The setup to monitor now is a daily close above $22.10, which would signal a real breakout through the $21.82–$22.11 resistance zone. A decisive push above that level opens the door for a test of the channel’s upper boundary near $27–$28.
💡 Trade Plan:
Trigger: Go long on a confirmed daily close above $22.10
Targets:
First: Mid-channel resistance around $24.50
Stretch: Upper-channel target of $27–$28
Stop‑Loss: Place below the channel base, ideally under $20.50 to manage risk
Why It Works:
TL;DR:
Watching for a breakout above $22.10—that’s your entry trigger. Aim for $24.50, then $27–$28, with a stop under $20.50 if support fails.
💡 Trade Plan:
Trigger: Go long on a confirmed daily close above $22.10
Targets:
First: Mid-channel resistance around $24.50
Stretch: Upper-channel target of $27–$28
Stop‑Loss: Place below the channel base, ideally under $20.50 to manage risk
Why It Works:
- Clear structure: Ascending channel with multiple supports provides clarity on entries and exits .
- Momentum catalyst: Breaching the $21.8–$22.1 zone suggests fresh upside momentum.
- Reward setup: A small stop near channel support offers a favorable risk/reward targeting channel top.
TL;DR:
Watching for a breakout above $22.10—that’s your entry trigger. Aim for $24.50, then $27–$28, with a stop under $20.50 if support fails.
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