Trade Setup
Cellectar Biosciences, Inc., a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131, which is in Phase II clinical study in patients with relapsed or refractory (R/R) Waldenstrom’s macroglobulinemia (WM) and B-cell malignancies; and Phase IIB clinical study in r/r multiple myeloma (MM) patients, as well as Phase I study for various pediatric cancers, R/R head and neck cancers, and R/R MM. The company also develops CLR 1900, a PDC chemotherapeutic program that is in preclinical stage to treat solid tumors.
Stocks found in this category are low priced stocks priced between .50 and $5, with at least 50k shares of average shares trading per day. The stocks are pausing a trend either up or down, with a new bar over the prior day open or close. These are high reward to risk stocks with the potential for very sharp moves. A stop should be maintained at the low of the prior day. Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro.
