Cara Therapeutics Inc (CARA)

[Gman2488]

From a technical perspective, Cara Therapeutics exploded higher on Tuesday right off some near-term support at $13.32 a share and back above its 20-day moving average of $14.38 a share with heavy upside volume flows. This high-volume rip to the upside is now quickly pushing shares of Cara Therapeutics within range of triggering a big breakout trade above some key overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $16 to $17 a share and then above its 52-week high of $17.20 a share with high volume.

Traders should now look for long-biased trades in Cara Therapeutics as long as it's trending above its 20-day moving average of $14.38 a share or above more near-term support at $14 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.58 million shares. If that breakout takes hold soon, then this stock will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $18 to $20, or even $22 a share.

I believe the close the last two days has been above $15 and the volume at 3&2 million respectedly see you at the new52 week highssoon enough. I'm actually striving for a near term of around $21.58 and then when news of results drop if positive fingers crossed I see this jumping to at least $26 before it pulls back to anywhere between $18.50-$22

IMO of vourse