“ARK EFFECT” or Social Media Trading Bubble ???In this chart you see comparison between Tesla and Crisper. You may think comparing an automaker with a medical company is craziness! But you can not deny the the correlation you see in the charts, unless you have severe visual problem!
Question: why should an automaker and a medical company have the same pattern?
Answer: They both were ARK invest favorites!
Notice: ARK has sold most of it’s CRSP shares in the last 2 months and CRSP price slipped -45% in 25 trading days. Will Tesla be the next? I believe it could be, but We have to wait and see..!
Based on this correlation Tesla could sink to 500 or below in March 2021..!
*everything happens in CRSP a little sooner!
For more information read the related analysis..!
Moshkelgosha
CRSP
$CRSP $181 H&S Invalidation PlayComing in as the 13th largest position in the ARKG ETF with a 2.68% weight (as of 02/18/2021), CRISPR Therapeutics AG is arguably one of Cathie Wood's favorite play in this space.
Since hitting the Highs of $220.20 on 01/15/2021, $CRSP has been on a steady decline to the lows of $142.15, forming a clear Head & Shoulder pattern on the daily chart in the process. Over the last 2 days, $CRSP has been attempting to break the neckline of the H&S, but with no success - as we see rejection off the neckline and volume picking up with an upward push in price.
Today, we see price trading upwards of $147.12, stabilizing at $150.
Next, I expect $CRSP to continue closing above the neckline, subsequently testing and breaking the next 2 resistance to complete the invalidation of the H&S.
My target is $181.42. Please set SL based on your own risk tolerance.
This is not investment advice so please do your own due diligence!
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$CRSP Trade Review -9.12%The stop-loss that I set for myself for the H&S invalidation play was absolutely obliterated today. We have broken below both the neckline of the head & shoulder and the support of the bullish channel. This puts the level of $84 to $110 absolutely in play.
Unless we are able to break back above the bullish channel and the neckline, the H&S pattern will complete itself. The daily RSI may be in the oversold territory now, but considering the nature of our correcting market, $CRSP earnings miss, ARK not adding to their position, lack of short-term positive catalyst, absence of media exposure, and a high probability bearish price action pattern, there is very little reason for $CRSP to sustain a higher price in the short-term.
As such, the downside risk for $CRSP is extremely huge. I will avoid entering a $CRSP position for the time being as I would like to wait for a re-test of the key levels before confirming a directional bias for a position. If we re-test the bullish channel's support-turn-resistant and H&S neckline but fail to break above either of them, we will likely be heading for the $84 to $110 level to complete the H&S pattern. Otherwise, if $CRSP manage to stay above them, I expect either a consolidation or a push for the resistance of the bullish channel.
This is not investment advice so please do your own due diligence!
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time to get back to CRSPPrice is at 50% retrace from Nov 3rd at around 86$. major support at the current price level.
I believe it is still ARKG's top holding at the moment with lots of the biotech took a hit since beginning of the year.
This might be a golden opportunity to get back into the CRSP/EDIT/NTLA stocks. I am starting adding to my positions.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
CRSP - possible buy opportunityNot a financial advice. Do your own research and have a happy trading.
possible buy opportunity at CRISPR, the pullback seems to be over, the company - the big leader among gene-editing pioneers - is extraordinary, the current capitalization of 12, B poae rises in the next max 5 years to 100B. Green resistance is the maximum reached by the company since it is listed.
CRSP Swing Play NASDAQ:CRSP is holding its support and just bonce today from 50 MA. Swing play. Buy price: 163.39, Potential target: 219.42 & stop loss: 144.73.
Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational & entertainment purposes only. All advice is based on technical and my own opinion.
CRSP short trade updated chartHere is the updated chart on CRSP short trade I posted on January 14th. It's been down 23% since the date it was posted. So far so good. First target was hit today and managed to keep above as I have expected. I expect more downside in days to come. XBI sector can break down anytime too now. Literally one red day will do. My next target is the bottom of the channel colored yellow. Once the selling gets momentum, it will be pretty swift downward move. Definitely can't fall a sleep behind the wheel right now in this market.
Have a good trades everyone,
T.
CRSP 3 Day chart CMF warning signPrice has been going up with the CMF diverging negatively -- could be a warning sign.
20 period CMF even crossed down 0.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
High probability swing short set up on CRSPHere is my short case on CRSP:
- at the top of trading channel started since Feb 2020
- over bought reading on RSI
- both PPO and RSI shows very clear divergence high
Starting building a position as it hits the top of the channel and scale in as it moves down. Impulsive break of the wedge should move it down to the support at $161. Reaction will be likely, consolidation or a minor bounce. Then, if it gets taken down, then moving down to the bottom of the channel which intersects with $145.80 horizontal support. If that breaks, it's going way lower since $110 and $131 area are pretty thin so the move will be probably pretty swift.
Stock to watch: Crispr Therapeutics AG (CRSP) - re-uploadNASDAQ:CRSP
Re-uploading the original idea from Nov 24 (which was brutally deleted by the moderators LOL) 👇🏻
Original chart from Nov 24
May be an interesting stock to trade: Buy/Sell Zones indicates a 20-day uptrend. Long-term target is 1 Fibonacci, short-term targets may be lower Fibonacci values. The pre-market shows a small potential recoil that can give a good Long entry point.
Disclaimer: This article should not be considered as financial or investment advice. Trading digital assets involve risk and may resolve in the loss of your capital. Always be sure to understand the amount of risk involved and do your research before taking any trading/investment steps.
CRSP buy Initiate a small position and look for adding more on pullbacks.
Beta 2.3
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Genomics ETF --> breakout & measured moveARKG broke out of the parallel channel with strong volume (over 110% tan average 10-day volume).
When there is a break-out, the 5sma tends to be a good rule of thumb to follow the short-term trend; and not lose to much if there is a failed breakout.
RSI shows we are still not overbought at 67; but with strong buying.
Using the bottom level of the parallel channel to calculate a measured move; puts ARKG around $75.
ILMN- Leader in gene sequencingILMN is short-term to mid-term bearish, long term- bullish. Relief bounce is overdue as the selling pressure seems to be overheating and could soon be exhausted.
ILMN is still a leader in gene sequencing with roughly 70% market share, but its short-term prospect is damaged by waning consumer interest and tariff.
Looking for daily close above 275 and weekly close above 300.
Potential short play once the price reverses up to the supply zone.
Ascending Triangle & Triple Bottom for CRSP?Notice the dark blue pattern on the chart, there's noticeably a Ascending Triangle and coincidentally a bullish inverted H&S where I have placed the green lines.
Above each green line is appears to be a bottom, and there's three very noticeable on the line chart as opposed to the hollow candle chart. I have placed three blue finger icons so there is no confusion, each finger represents a bottom of the Triple Bottom.
On the RSI there's was clearly a modest divergence, if the Ascending Triangle breakout to the upside the RSI is going to need to create a higher high and break out of the pattern to the upside negating the possibility of this ending in a bearish divergence & descending triangle.
$CRSP Consolidation Channel Long Right Now$CRSP has formed a perfect consolidation channel between $86 & $97. The daily squeeze momentum is turning positive after this 6 week consolidation and looks ready to make a move to new highs, potentially above $100 to $120. Long $CRSP and other gene editing stocks like $EDIT $TWST $NVTA $NTLA $CLLS which have very similar setups/positive momentum. Buy the 9/18 $100 calls for around $5 and stand to make out nicely on a breakout move above $100.
LINK and CRSP similar structureLINK and CRSP have very similar looking charts of a long term ascending triangle breakout that quickly occurred relative to the total length of the triangle. Both have strong fundamentals, each having their place in the 4th industrial revolution. CRSP is on a 2.2x slower timescale than LINK, so LINK may be able to foreshadow price targets on CRSP. Fib extension of denoting the triangle breakout level to be 38.2% of the projected peak, says that LINK may hit ~$10 (agreeing with the previous LINK and ETH comparison) in 2020 which would infer that CRSP could reach ~$140 by late 2020-2021.