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!
0VRQ trade ideas
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.
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!
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!
PANDEMIA FACINGThis Company engages in the development and commercialization of therapies derived from genome-editing technology. Its proprietary platform CRISPR/Cas9-based therapeutics allows for precise and directed changes to genomic DNA . CRSP and Vertex creates new possibilities in medicine to cure diseases and improve people's lives. We work with leading researchers, doctors, public health experts and other collaborators who share our vision for transforming the lives of people with serious diseases, their families and society. The company itself still seems to manage and operates even we're facing crisis e.g. The COVID-19 pandemic.