XOMA possible LONG Set up

XOMA is a C&D trade by price and volume, although by far not the worst of the Cats and Dogs, but still speculative. Risk management should reflect that, but even if you don't trade it, these Cats and Dogs are worth watching as indicators of the market.

Here's the set up...

 A very obvious triangle, these are often broken before moving higher in a shakeout.-today we have a break of the triangle.

 There have been some recent positive divergences in the triangle and the break that just occurred was not confirmed by 3C, in other words, it's still in a positive divergence.

A high probability low risk trade here would be to set an alert for XOMA moving back into the triangle and above $3.00. At that point you may want to consider going long with a stop around $2.91 or so.