CRSP trade ideas
CRSP: Trade ideaHey traders, here's my play on CRSP
I added more shares on Friday before close which brought my average cost slightly down to $168, will keep adding if we go below $150
Conditions/Catalyst:
Earnings + pipeline update (CTX130, CTX120, & CTX110 in sight)
Potential reversal Friday before close
Hammer candle resting on 50ema after a major sell-off
Moving averages + price actions tightening up since January 27
I will scale into March 5 180c so long that 162 is held. My targets are 172, 177, and 193. This play will heavily be dictated by volume, if I see lots of buying I will go overweight and continue to hold. Once I see price action moving sideways on low volume I'll cut the chord with a small loss and might play 170c or 155p weeklies depending on direction.
**Since January 27 the price action has been tightening and this could signify a move up, or continuation on a move down**
CRSP - Falling Wedge - Impending BreakoutLiking what I'm seeing with this stock. Price advanced heavily and we got a good size pullback forming what could become the base of a cup & handle. The hidden divergence in RSI and MACD gives me reason to believe a breakout is coming soon. Planning to keep an eye on this one this week for a potential opening inside the wedge. Target $210 by middle of March (25%).
time to get back to CRSPPrice is at 50% retrace from Nov 3rd at around 86$. major support at the current price level.
I believe it is still ARKG's top holding at the moment with lots of the biotech took a hit since beginning of the year.
This might be a golden opportunity to get back into the CRSP/EDIT/NTLA stocks. I am starting adding to my positions.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
$CRSPAlthough it looks like simple C equals A completed I cannot count 5 of C as complete I think the bullish channel in white is on based on vol more like 3rd wave
CRSP - possible buy opportunityNot a financial advice. Do your own research and have a happy trading.
possible buy opportunity at CRISPR, the pullback seems to be over, the company - the big leader among gene-editing pioneers - is extraordinary, the current capitalization of 12, B poae rises in the next max 5 years to 100B. Green resistance is the maximum reached by the company since it is listed.
HammerShould take the advantage of this correction. Will not see these levels in near future.. Ark investments big bets.
Crisper hit a Demand Zone and bouncedCrisper hit a Demand Zone and bounced and heading back towards the Consolidation zone.
Wave 2 complete -Wave 3 takes this to the 100% fib @ $290If following the Elliott Impulse Wave, wave 2 appears complete and the next logical target would be at $290 at the 100% fib extension for wave 3.
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
CRSP: Projections using Fibonacci levels and confluenceCRSP: Projections using Fibonacci levels and confluence
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.
CRSP is getting its momentum back hereI have some history with CRSP. It's been one of my favorite biotech stocks in the last few years. I like it here. Above 177 likely launches a vertical move up.
First idea on CRSP:
Last post on CRSP:
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
CRISPER_BUYCRSP looking like a BUY on the technicals and a hammer candle stick pattern looks bullish...it did not head and shoulders which would have been a bearish signal to the market...
CRSP - Looking like a great entry point ARK Favorite, looks like a great entry point to me, I hold 8% portfolio at the moment haha
