CRSP/N trade ideas
Learning Elliott waves. Pls commentI’m learning to trace Elliott wave and came up wirh this for CRSP. I would appreciate any comments from people who know about Elliott Waves.
Thanks
Pls do not trade based on this chart.
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.
[Long] CRSPAfter punishing chasers who bought the ATH breakout, could this be ready to continue its long term trend?
I admit, I chased into the breakout. But I am small enough in size not care about a short term drawdown.
$CRSP - Simple Price Action Strategy$CRSP A simple trend analysis using Price Action.
The price is respected well around 88 USD. we can expect a similar trend & a bounce back is expected after a steep fall.
Buy:80.60
SL:85.11
T1: 95, T2:101
CRSP Buying OpportunityNASDAQ:CRSP
CRSP levels of support, resistances and long term trend lines on the 4HR.
Buying opportunity if goes back above middle red long term trend line.
Stoch RSI oversold. MACD momentum still above 0 line.
$CRSP Consolidation Channel Long Right Now$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.
CRISPR - Long Term OutlookCrispr is still on the rise and trading within it's rising channel.
It looks like it has completed a 5th wave and is due for a correction. There is major support around $73.00 which is also the 61.8% fib level.
This may present a nice buying opportunity if it drops to around $73.00 and that support holds up. I think gene editing and genetic engineering will continue to have positive momentum until at least November.
Disclaimer: This is not financial advice. Do your own research and due diligence. Good Luck!
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.
Crispr Update (CRSP): Short term levels to get longEntry is targeting the following
- Between the .382 - .618 retracement
- convergence with the 50 week moving average
- convergence with the 2 year trend-line
Original Analysis
Completion of Wave 5 Impulse - now on ABC corrective patternImpulse wave 5 is complete - will be on a corrective ABC pattern heading to FIB retracement support levels.
CRSP: Crisper Looking good in those GenesThis has broken past horizontal resistance. Could go to height of the channel.
C & HIf you look back to 2019 there is a prior high at the top of a wick of $74 that appears to be a shooting star on the weekly time frame.
So hypothetically entry would be over that high at 74.10 (ish) (stock is overbought on daily)
Stop: Under handle low which is under 57.50 (ish) A bit of a wide stop )o:
Target 1: 90 to 99
Target 2: 127 to 140
I am waiting on the breakout on this one since it is so close to it today and the stock in overbought. Also the prior high was not solid in my opinion, but I like the stock
Biotech is hot right now but in the past, a very risky sector..this is just an observation..so be safe!
$CRSP - Bull flag breakout - Potential Target $74We are seeing a nice breakout on $CRSP, It may soon rally back to ATH -$74. If it holds price over $74 then the next target is $78.
CRISPR - Book Profits?I do think CRSPR is a long term buy, I just can't trust anything in this market.
I am going to try to book profits around $68 and look to buy back around $22. I could be making a mistake but you gotta take those profits when you see them.
Please don't take this as financial advice. Trade Wisely!
