CRSP Bear flag patternSince it broke out of the rising wedge at the bottom, after consolidating in a narrow channel, a bear flag can be drawn on CRSP 4h and Daily. The positive momo on the 4h couldn't create any upwards movement so if a possible backtest of the rising wedge cant get the price back in, you could be going to 120
C2RS34 trade ideas
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.
Crispr consolidates, higher lows but with upward resistanceI stopped out on Crispr at 173.50 and since then the stock has consolidated setting higher lows while unable to break through resistance at around 173-173.50. This has had a significant impact on ARK-G which fed off the strong up-moves Crispr has made over the last six months.
It is believed that Crispr is the Apple of the future. Many times over Apple's price moves in the last decade, there were months and even years with little to no upward movement. For many, the buy and hold strategy may be the best approach.
Crispr - DNA/Gene editing Technical Analysis
Since early December, we have had over a dozen tails on the purple up-trend arrow drawn in.
The 50sma is now coming into play, as a break below that, could take us another 20% down to the 100sma.
An appropriate level to exit the trade then, would be below the 50sma.
There also horizontal support as we fill the gap.
Important Note:
Earnings are on February 10th; so be aware of this if you plan to enter the trade.
Opinion
I believe this company is the future of gene editing.
Check out a documentary of the company on Netflix called Human Nature.
*It is more about how Crispr (DNA modification) works, than how the company makes money.
Enjoy your weekend,
dorfmaester
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.