Here is your trade on Clovis Oncology (CLVS) (December 29, 2015)

by DAN CLVS 
Clovis Oncology ( NASDAQ:CLVS ): we had a lot of people in the forum talking about this this stock. You can see what happened; and no, the stock didn’t split 2-for-1 or 3-for-1 or whatever, it just got crushed. But since it fell the stock has been squeezing tighter and tighter right about 35.00ish, 34.75, something like that. It’s been squeezing in a tight range. We’re finally seeing it start to break out where I wanted to give you the “heads up”. Unless you’re in the forum you may not be following this stock, so this is really quick. I think this is a stock is going to work for you. There’s the support line right along there; so $33.00 or so is your downside, that’s support right there.

The volume is still below average, but I’ll take the breakout; a close above this upper Bollinger Band, two standard deviations from the 20-period moving average. I will take this. This is a stock I think you can buy and you’re taking about a $2.00 risk. Maybe not even that much, because if the stock starts falling back into the range here, well then this breakout didn’t really breakout very far. It just kind of poked it’s head out a little bit and then fell back into the congestion area. So I think you can be buying some stock here. Just keep a fairly tight stop on it and I think you’ll wind up doing just fine with Clovis Oncology ( NASDAQ:CLVS ), which by the way Clovis Oncology ( NASDAQ:CLVS ) is not too far from where I grew up. One of these days it will be a historical monument, but not anytime soon.

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