Cytokinetics, Incorporated (CYTK) Buy Target $20.60 Sell Target $24.25

Trade Setup

Buy Target $20.60
Sell Target $24.25

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility. Its drug candidates include omecamtiv mecarbil, a novel cardiac myosin activator that is in Phase III clinical trial in patients with heart failure; and reldesemtiv, a novel fast skeletal muscle troponin activator, which is in Phase II clinical trial to treat amyotrophic lateral sclerosis and spinal muscular atrophy.

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.

X