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ContraVir Pharmaceuticals: Possible Breakout Of Current Consolidation

By António CostaStock MarketsNov 20, 2016 01:43PM ET
www.investing.com/analysis/watch-for-a-possible-breakout-of-current-consolidation.(pennant-shape)-200165656
ContraVir Pharmaceuticals: Possible Breakout Of Current Consolidation
By António Costa   |  Nov 20, 2016 01:43PM ET
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Contravir Pharmaceuticals Inc. (NASDAQ:CTRV) closed slightly below key resistance on volume. The technical daily chart above shows a large consolidating pennant shape that could see a strong breakout to the upside next week.

The high short interest should also serve to fuel a short squeeze situation. If a breakout above 2.15 occurs, we could see a move toward the 2.45-2.50 range initially, then a test of the highs is forthcoming.

CTRV Daily Chart
CTRV Daily Chart

ContraVir Pharmaceuticals: Possible Breakout Of Current Consolidation
 
ContraVir Pharmaceuticals: Possible Breakout Of Current Consolidation

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