Chart of the Day: Clarivate (CCC)

Clarivate (CCC) is an information services and analytics company serving the scientific research, intellectual property and life sciences end-markets. The company announced yesterday the completion of its acquisition of…

CPA Global, a global leader in intellectual property software and tech-enabled services.

Take a look at the 1-year chart of Clarivate (CCC) below with added notations:

 

Chart of CCC provided by TradingView

Over the past couple of months, CCC had hit resistance at the $30 level (green) on multiple occasions. Now that the stock has broken above that resistance, higher prices should follow, and $30 will likely become a new support.

The possible long position on the stock would be on a pullback down to that level with a stop placed under it. A failure to hold $30 could negate the expectations for a higher move.

Have a good trading day!

Christian Tharp, CMT

@cmtstockcoach