CADL Long Trade Setup Breakdown!📊
✅ Stock: Candel Therapeutics, Inc. ( NASDAQ:CADL )
✅ Chart Timeframe: 30-Minutes
✅ Setup: Long Trade (Breakout Play)
📈 Technical Analysis & Key Levels
📌 Trendline Breakout Attempt
The price is testing a descending trendline resistance (Pink Line).
A breakout above this level could lead to bullish momentum.
📌 Support & Resistance Zones
Support: $8.25 (White Line) – Strong base, tested multiple times.
Breakout Level: $9.00 (Yellow Line) – Crucial resistance area.
First Target: $9.86 (Red Line) – Previous resistance level.
Final Target: $10.97 (Green Line) – Next major resistance.
📌 Trade Plan
Entry: Above $9.00 (Confirmation of Breakout)
Stop Loss: Below $8.25 (Previous Support)
Take Profit Levels:
🎯 TP1: $9.86
🎯 TP2: $10.97
📝 Trade Strategy
📌 Breakout Confirmation Needed:
If price closes above $9.00, it confirms strength for a long entry.
A strong volume increase on breakout will add conviction.
📌 Risk Management:
Risk-to-reward ratio looks favorable.
Stop loss at $8.25 ensures a controlled downside risk.
📌 Watch for Fakeouts:
If the price rejects $9.00 and falls back, avoid entry or exit early.
🔔 Trade Alert Summary
🚀 Bullish Setup – Watching for a breakout above $9.00
📈 Potential Upside: $9.86 → $10.97
⚠️ Risk Level: Moderate – Wait for confirmation before entering.
