CRSP/N trade ideas
CRSP, REVERSAL COMING?Hello fellow traders and investors, here's another trade idea.
CRSP has recently pulled back to the support area, if CRSP makes a full recovery it offers a 90% ROI.
Technicals:
The Macd indicates that CRSP is oversold
The Macd indicates that CRSP is in a downtrend
The Ema's indicate that CRSP is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
I recommend selling at the previous high which offers a 90% ROI.
I anticipate CRSP to consolidate in its support zone and when the Macd and EMA's indicate a reversal then consider buying some shares if it meets your criteria.
NOTE: I personally don't like to buy therapeutics companies stock because of the volatility some of the stocks tend to experience.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like and follow, Thanks.
CRSP Possible reversal area with price targetsWhile it has been in a strong downtrend over the past few weeks, CRSP is showing signs of a possible bullish trend reversal.
The 4h MACD is showing triple class A bullish divergence, with a daily bullish hammer candle on top of a critical support area which also lies at the bullish .886 Fibonacci retrace area.
If price-action shows a reversal upwards, the price targets would lie at the .618 Fibonacci retrace (aligning with the shoulders of an old head&shoulders pattern), the .718 Fibonacci retrace (A potential bearish value area), and the all-time high at the 100% Fibonacci retrace level.
The stop loss lies just below the critical support area, however, one should be aware of false breakouts below this level.
The scary truth So as many people are thinking of stocks they wished they could’ve bought into earlier this one popped up in my head! Now... I’ve seen this with a lot of stocks I wanted to buy but they ran too much.. from its high it’s down almost 50% awesome right... but look at the chart when you zoom out... these stocks can fall so so much more... I am becoming more and more bearish
CRSP short trade updates on weekly chartHere is my follow up update on original CRSP swing short trade idea I put up on January 14th.
On this post, I am zooming out to weekly chart, looking at longer time frame to capture cyclical trends.
Going back all the way to 2017 inception period, the higher than average volatilities are pretty easy to notice. It moves up really fast but also coming down. Every single time it has entered bear market or the sell signal is triggered, it has corrected well into double digit, easily averaging over 50%. In addition, RSI being overbought and high level PPO bearish cross overs are clear indication to trend reversal as well.
Lastly, the week is too young still to comment yet but as of the end of today's session, it has taken down the up trend line as well on the weekly chart. There are plenty of time left in the week to recover the trend line but we shall see. It would be bullish if it can snap back above by the end of this week. I do not think CRSP will drop to my potential max targets without decent double digit correction in SPY and QQQ.
I will comment on this post after the Friday close to see where it will be by then.
If anyone has any thoughts either bullish or bearish, I would love to hear from you. Also, if you find it interesting, please follow me here.
Have a good trade everyone,
T.
Getting close to entry pointOne of my favorites and i never thought it will come down these prices. I bought it at a higher prices but this one is a long term hold.
breakout backtest and Mac D CrossSTrong long setup from very oversold levels, bounce can be very strong
$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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LONG CRSPExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Fibonacci & regression - searching for the lowHaving the regression up and down crossing at the low I played with Fibo to look what could possible a match. Look at price rejection of the low from today. This might be the entrypoint for a good swing. However. putting Fibo on a double bottom gives a different view. Price could drop even more.
I hope for the up in the same angle as before for a new swing. And when things dont work out... well always a nice long position at a reasonable low for the next year(s).
$CRISPR Head & Shoulder and breach of the 100emaHello fellow traders. We are experiencing a respectable pullback on many names these past few days. CRISPR is one of them. This stock has actually been in correction for sometime now, which picked up pace after disappointing earnings last week. We may see more downside in the short term if the market continues the selloff but this company is definitely a buy in my opinion. They have very good prospects to become the main gene editing company in the business. I had actually been waiting for a dip to enter a position, which I did last Friday. I am adding more as it goes down. I am not expecting it to moon tomorrow (which it will not), but I think the correction on this one may be coming to an end sometime soon. Also, the fact that this is one of the top holdings of ARK investments gives me that extra reassurance to buy.
TECHNICALS
You can see that CRISPR formed a head and shoulder pattern and broke down a few days ago. Although the right shoulder is kind of malformed, there is enough symmetry between the top of the two shoulders for us to can consider this a head and shoulder. Today the price breached and closed below the 100ema, which hasn't happened since May 2020. We are now on support of the .618 fib level (AKA inverse Golden Ratio), which in theory is strong. If this support doesn't hold the next stop is most likely the 200ema, which at the time of this writing is very close to the .786 fib level. The price can obviously change directions anytime but many traders like you and me are looking at the same indicators so the 200ema is a good anchor point.
The RSI is about to cross to oversold level, a zone it hasn't been since March 2020. At that time it didn't stay in oversold for too long (about 4 days or so). Although past action doesn't indicate future behavior the quick reversal of the RSI direction is a good precedent if you want to buy in or already own the stock. Additionally you can see that the OBV isgetting close to the trendline support (yes, we can trace trendlines on the OBV too).
HOW TO TRADE
If you want to enter for the long term you can start dollar cost averaging (like I did) or wait for a clearer signal of reversal if you are more conservative. You may look for a bounce from either the fib levels or the emas as well as wait for a MACD bullish cross over. To me, anything between the 100ema and 200ema is a buy on this one.
Safe trades and good luck!
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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
CRSP possible H&S looks like a head and shoulders pattern on crisper. I am looking at targets around $100 to $80 for an entry. I like this company for the long term.
CRSP, run up to earnings possibleRR: 4.85
Target: 33.5%, 21d
Price has been downward since the share offering announcement. Run up to ER is possible.
CRSP will it ever reverse!?! Starting to see some bullish divergence in the ChalkinOsc and MACD. It's been on a pretty big correction lately and these might be the signs that the sellers are losing steam. The 100 day is inside a low volume zone so if there is going to be a reversal I'd guess it needs to do around there. Under 140- looks very slippery.
CRSP is ready to fly Since CRSP all time high the stock has dropped 35%, now CRSP looks like its ready to take of an test new all time highs. RSI, MACD and Stochastic are indicting bullish behaviour. First target for CRSP is 182, second taget is 221 and 3rd target forming a new all time high is 265. In case bad news come out or the stock keeps showing bearish momentum it has a massive support at 148, this are has been tested several times and is a very strong support.
CRSPThere is a lot of disagreement between the Bulls and Bears. It formed a Megaphone.
Earnings missed badly.
H & S pattern confirmed - with a break of the neckline - Price Target $100
It has to break below the long-term uptrend line first.
Oscillators could turn up as it bounces off the long-term uptrend and resume to the ATH's.
A lot depends on the broader market which is also at an inflection point also and has to prove itself.
The trend is your friend.
CRSP 16-02-2021 LongAsset and Time frame -4H, CRSP
Entry Price -163.50
Exit(Stop Loss) -152.92
Exit(Take Profit) -216.63
Technical Analysis -I'm jumping the gun on this one, it's always better to wait for a candle to close and then enter the trade, but the risk to reward here is great, and I'm not afraid of the price going against me on the pre-market by 6% and go beneath my stop loss, from a technical standpoint, the price has been going sideways for a reasonable amount of time, with some big spikes in volume, on the 4H chart we have a piercing line pattern, on the daily chart we have a small bullish hammer, if you want a safer way to enter the trade, wait for the candle to close bullish
I would like to hear your opinions and what can I do to improve, many thanks
