The stock price of CYRX (CRYOPORT, INC) is currently trading around $22.3 per share. The long-term downward trend has weakened and a short-term upward trend is evident in the weekly chart. The stock has closed above the Bollinger 1W trend line for 6 weeks. Investors can expect the price to break out of the strong resistance level around $34 after trading sideways in a narrow range to create a price base.
Trading idea: Traders can buy at the current price level. Stop loss should be set if the price closes below $19. Profit-taking is expected at the strong resistance level of around $34. It is crucial to adhere to trading discipline and manage account risk strictly.
