1

PLAY
CTMX – Flat Top Breakout

CATALYST
Day 2 play, yesterday MRNA partnership caused the name to rally in after hours. And we may see continuation.

TRADE IDEA
CTMX could touch 3.50 in premarket

SETUP QUALITY AND VARIABLES
A

• Fresh news
• Medium float
• High volume at 7am, testing 4am highs @ 3.20
• Clean daily chart

PLAN
• Get long for the break flat top break out at 3.20 for a quick move to 3.50, secondary target at 4.60 for 10% runner
• Stop is break of vwap if no buyers appear on L2
• Using small size since market seems weak this morning

REASONS TO SELL
• Target reached
• Tape slows
• Cannot lift 3.25
• Vwap broken, stopped out

EXECUTIONS AND PRICE ACTION
• Followed plan, got stopped out after price could not lift and no buyers appeared when vwap was broken

KEY TAKEAWAYS
• Use a tighter stop when scalping a common pattern, it should work right away. It could be argued that this was a double top, but the timeframe was too short. I would take this trade again but with tighter stop.
• The correct stop for this setup was a break below 3.12, but could have sold when 3.25 did not lift after a couple tries
• Did not need to risk .20, when I could have risked .10