Long trade in CPRX
CPRX is the #1 stock in the biotech group by almost every metric. The table on the chart shows its ranking out of all 795 biotech stocks by 3 metrics from IBD's MarketSmith.
Sales and earnings are surging and the rate at which both are growing has increased in each of the last 4 quarters.
The stock made a false breakout on December 14 when the market gapped up on CPI data. It then put in a shakeout move to hit stops before rallying right out of its base.
I am taking a small position in the stock here with a tight stop at 17.65. I want to see new highs in the next several days to confirm the breakout has legs.
Sales and earnings are surging and the rate at which both are growing has increased in each of the last 4 quarters.
The stock made a false breakout on December 14 when the market gapped up on CPI data. It then put in a shakeout move to hit stops before rallying right out of its base.
I am taking a small position in the stock here with a tight stop at 17.65. I want to see new highs in the next several days to confirm the breakout has legs.
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