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. 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 Glembatumumab vedotin (CDX-011) is a targeted antibody-drug conjugate in a randomized study for the treatment of triple negative breast cancer.
Take a look at the 1-year chart of Celldex (Nasdaq: CLDX) with the added notations:

After sliding lower from February into May, CLDX finally found it’s footing and started a sideways move. Over that time the stock has hit a key resistance level at around $18 (blue) multiple times. Two weeks ago CLDX finally broke out above that important $18 level and now appears to be pulling back to it.

The Tale of the Tape: CLDX had a key level of resistance at $18 that should now act as support on any pullbacks. A long trade could be entered on a pullback to $18 with a stop placed below that level. A break back below $18 could negate the forecast for a move higher.
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