CDXC Trade Review
This specific trade review is for SMB to show my thought process around this trade. THE SETUP CDXC is a biotech name that had a clear tight range looking ready for a breakout. Breakouts alone are not enough for me to take a trade. There are over 30 different things I take into consideration before I decide I want to look to take a trade on a name or not. I will list the ones that I found noteworthy on this specific one. Mainly, some big biotech names around Jul 22nd were seeing some pops and IBB was also breaking out higher from a range reclaiming all the Daily Moving averages. CDXC about to do the same. I thought strong market, strong sector, potentially strong move? Other notable points 50MA showing clear buy candles 3 separate times, Anchored vwaps from Earnings days/pivot high and low just underneath of price. Failed triangle breakdown and near remount of TL. Other triangle breakout to the upside just barely broken. Volume is also starting to incr...