EDIT Editas medicine ready to break outBeen in this for a little while now since the change in market structure and added a few times to this position so not the best avg weighted entry but still well in profit.
Classic sweep of lows and change in market structure has me excited on this position and more recently over the last month with the gap up above the previous short term high and now the ascending triangle forming showing the bulls still buying up and testing that resistance.
The resistance may be strong but we have had a few cracks at it already and eventually I expect this level to break and to see another descent impulse move.
Bullish on EDIT for now, momentum still on our side.
Editasmedicine
Long-term Moon Shot | Editas MedicineEditas Medicine is a clinical stage genome editing company,
With the help of CRISPR technology, it focuses on treating a range of serious diseases like:
-Leber Congenital Amaurosis type 10 (Genetic form of vision loss that leads to blindness in childhood) - EDIT-101 has recently entered phase 1/2 trial for the treatment, the very first time an in vivo CRISPR treatment enters clinical trials which with positive results could instantly make Editas a leader in this new field!
-Usher Syndrome 2A (Form of retinitis pigmentosa that also includes hearing loss)
-Treats sickle cell diseases and beta-thalassemia (A blood disorder that reduces the production of hemoglobin)
It is also
-In collaboration with Juno Therapeutics to develop engineered T cells for cancer!
-Agreement with Allergan Pharmaceuticals International Limited to innovate, discover and develop new gene editing medicines for a range of ocular disorder
-Collaboration with Asklepios BioPharmaceutical to develop therapy to treat neurological diseases
The company has a lot of potential ahead in upcoming years!
Let's get more technical!
UNDERVALUED, I believe now would be a good time to lock in a long term position due to those facts
-Recently had a public offering of 3.5M at $66 per share (Jan 21st)
-Pe Ratio -39x
-Fair Value of $479.88 US
-Fib Retracement to current lows indicates a potential entry for the long term
-LONG TERM TIMEFRAME 1D LOOKS PROMISING AS WELL!
EDITClearly a lot of value has been lost in the past month. The CSO stepped down and analysts downgraded projected revenue. EDIT has very lucrative candidates in the pipeline treating sickle cell anemia. Long-term, this company will most certainly be profitable, with significant patent protection. This is a short term down draft that is consolidating, for the near term, around a non-speculation, fair price of $63.