Celldex Therapeutics, Inc. (NASDAQ: CLDX)

Celldex Therapeutics, Inc., a biopharmaceutical company, focuses on the development, manufacture, and commercialization of novel therapeutics for human health care primarily in the United States. The company has a pipeline of drug candidates in development for the treatment of cancer and other difficult-to-treat diseases based on its antibody focused precision targeted immunotherapy platform. Its lead drug candidates include rindopepimut (CDX-110), a targeted immunotherapeutic in a pivotal Phase III study for the treatment of front-line glioblastoma and a Phase II study for the treatment of recurrent glioblastoma; and CDX-011, an antibody-drug conjugate, which completed a randomized Phase IIb study for the treatment of advanced breast cancer.
To review Celldex’s stock, please take a look at the 1-year chart of CLDX (Celldex Therapeutics, Inc.) below with my added notations:

Over the last year CLDX has consistently moved higher. Since August the stock has formed a trendline of support (blue) that it has been bouncing on top of. Always remember that any (2) points can start a trendline, but it’s the 3rd test and beyond that confirm its importance. CLDX’s trendline seems to be very important now that it has been tested 5 times dating back to August.

The Tale of the Tape: CLDX has created a trendline of support over the last 7 months. A long position could be entered on a pullback to that trend line, which is currently sitting right around $23-24, with a stop placed below that level. A short position could be entered if CLDX were to break the trend line support.
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