sgmo ideabad data today was release that cause the trend to reverse would be looking for the that 38.2% fib retrace to next area of supply, see if demand picks up there or it will fall further.
0R1D trade ideas
SGMO: Interesting accumulation base...Sangamo Therapeutics, Inc. is a company that develops genomic therapies, using genome editing, gene therapy, gene regulation, and cell therapy. It's an interesting addition to your swing trading portfolio, specially now that it is ready to start trending up after being accumulated after enduring an extensive correction, now trading at a 40% discount from recent highs. Price held support at the earnings key level depicted by a green horizontal ray on chart. These levels offer a crucial map for price action, that helps us determine where to act, or what to expect as far as potential upside or downside a stock has, with very good reliability. This is one of @timwest's tools that you can leverage in your own trading and investing if using the Key Hidden Levels indicator pack (after learning how to use it of course).
If the market trends up from here confirming the daily time at mode signal on chart we can expect a 20 day rally reaching the targets on chart, potentially, or even higher levels if it holds once this rally expires, and is reaccumulated at higher levels once more. We hold positions in this stock, and would hold and even add if feasible in the coming days.
Best of luck if taking the trade.
Cheers,
Ivan Labrie.
SGMO Quick Short; Late But Still ValidSorry, didn't put this up earlier but it's still valid.
SGMO has bearish divergence between 11/14 last year and 01/13 this year (white arrows on chart and RSI ). Also as usual, RSI shows signal for selling (overbought).
The price also happens to be at the downtrend channel resistance. The volume profile shows increased more seller-to-buyer ratio since 01/17.
Initial target should be $3.10.
Ideal target for $2.70
Will The Bearish Harami Stop The Bullish Diamond Bottom?If you look at daily chart, you will see the bearish harami a kind of reversal candlestick Pattern, if you pull the weekly chart which is what we used now you will see a promising upside momentum that is underway. The price managed to close above Wilder's smoothing average line and tried to take out 3-EMA which is very vital for the bottom diamond to breakout. If that happens, expect a sharp and sustained upside move with target price $19-$20 area. If you decide to take this bullish trade, make your stop loss at recent swing long and give the trade 6-12 weeks to achieve the projected target price. If you want a real time alerts check out www.2waytrading.com
