Sangamo Announces Positive Preliminary Data2018-08-08 16:01:00
Sangamo Announces Positive Preliminary Data from the Phase 1/2 Alta Study Evaluating SB-525 Gene Therapy for Hemophilia A
SGMO trade ideas
Possible Trend Change for LongsIf this supply zone can be taken out by bulls, buyers will be starting to take control as supply zones are starting to get destroyed and demand zones are being created.
If the trend does change, can start looking for long orders.
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 Stochastic Divergence Channel Line BounceSGMO has stochastic divergence on channel line support. Look for this to turn up more before getting in.
Buy: 12.66
Target: 13.50 - 14.86 (6.64% - 17.38%)
Continuation on SGMOBuying off the trend line from $4.25 - $4.35. Stop loss at $4.15. Target is resistance around $5.00. If it breaks and holds $5+, it may have enough gas to go higher.
Fractal on Sangamo*Fractal extrapolation from 2008-09 cycle
*Ideal entry @ 4 handle area. Stop one handle
*Pipeline promising, despite overall in early stages
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
