Wants to break outPrice has been accumulating for 3 months under an important resistance. It could break out at any moment, has been poking it several times. I just opened a long position, TP around the 15 level, use limit orders for TP this is a high volatile stock, For SL wait for a red daily candle to close for the same reason, price can drop but it also could bounce back up very fast due its volatility.
IMTX trade ideas
$IMTX positive clinical data update from Phase 1 trialsImmatics Presents Data Update on Dose Escalation from Ongoing ACTengine® Cell Therapy Programs
·First anti-tumor activity observed in heavily pre-treated solid cancer patients during early phases of dose escalation
·Tumor shrinkage observed in 8 out of 10 patients including one partial response consistent with robust biological activity of infused T cell products
·Treatment-emergent adverse events were transient and manageable
finance.yahoo.com
SPACs are so hot right now.I've been trying to catch some of these SPAC waves (stocks like NKLA, SPCE, etc), and I think this one is next. It's a bio stock, so there's not much of a 'main street' story, but I love the reversal pattern. THis is a good example of 'scallops'.
THE TRADE:
See how volume is tomorrow. If it's decent, buy at around $11.10, stoploss of 9.94. PT 1 of $14.49, PT2 of $22.89.
It's just a shame you can't get options on it.