Why I Bought 5,000 Shares Of Cara Therapeutics, Inc $CARA

I bought 5,000 shares of Cara Therapeutics, Inc. (NASDAQ:CARA) at $12.32 just minutes ago. The reasoning is mostly technical, as the stock chart is hitting major technical support and is extremely oversold. In addition, at such levels and with promising drug candidates, it becomes a possible buyout target for a big player like Gildead Sciences (GILD) and others. In addition, the company is in the pain relief field. Any drug that is not an opioid can make a company extremely valuable considering the epidemic going on in the United States right now.

 

Please note, I may sell my Cara Therapeutics, Inc. shares at anytime, depending on market/technical signals. My general upside target is $15.00 near-term.

 

Get every single swing trade Gareth and Nick enter live in the Research Center, start for FREE and see it all right here.

 

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