Celldex Therapeutics (CLDX) is a clinical stage biotechnology company that is developing therapies for types of inflammatory, autoimmune and cancer-related diseases.
Let's check out the charts.
In this daily bar chart of CLDX, below, I see a strong rally from June. Prices made a low in June and did a quick retest in early July, before launching an impressive rally in which shares more than doubled. Prices trade above the rising 50-day moving average line and above the rising 200-day line. The On-Balance-Volume (OBV) line has largely moved sideways from August. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of CLDX, below, I see a mixed picture. Prices are in a longer-term advance with prices trading above the rising 40-week moving average line. It is hard to see the trading volume and the weekly OBV line shows just a slight increase the past two years or so. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero-line.
In this daily Point and Figure chart of CLDX, below, I see an upside price target in the $57 area.
In this weekly Point and Figure chart of CLDX, below, I see a potential upside price target in the $68 area.
Bottom line strategy: Traders could probe the long side of CLDX on a dip to the $44 area risking to $41. $57 is my first price target.
