Trade Setup
Chinook Therapeutics, Inc., a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company’s lead clinical program is atrasentan, an investigational Phase III ready endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases.
The stocks founds in the TradersPro Alerts category use a fixed entry and exit point using fibonacci analysis. It is a confirmation strategy that waits for the stock to make a move then a trader enters the trend at specific prices. The .382 fibonacci level of the prior trend is the entry and the .618 is the exit, with the stop loss under the swing low. This typically creates a 1 to 1 reward to risk with a high probability of success. To learn more about the fibonacci snap tool and this strategy you can go here.
