What’s Changed?
“Easy come, easy go.” This phrase perfectly sums up CRISPR stock’s price action since our last update. After initially pushing higher, the stock failed to hold its recent gains. Bears quickly regained control, driving the stock down more than 25%. As a result, the stock dropped significantly toward our support line at $44.12. While it has managed to stabilize somewhat at this level over the past few sessions, we’ve added a new Alternative Scenario to the chart, which considers a direct continuation of the sell-off below $44.12.
Primary Scenario
In the near term, our primary view calls for further (corrective) gains up to just below resistance at $78.48. At that point, the stock is likely to set its corrective high before entering another corrective phase. We expect this to eventually break below supports at $44.12 and $30.02.
Alternative Scenario
ADJUSTMENTS: Alternatively, the corrective advance may already be complete. In this case, we would expect a direct continuation of the decline, first moving below support at $44.12 (probability: 38%).
“Easy come, easy go.” This phrase perfectly sums up CRISPR stock’s price action since our last update. After initially pushing higher, the stock failed to hold its recent gains. Bears quickly regained control, driving the stock down more than 25%. As a result, the stock dropped significantly toward our support line at $44.12. While it has managed to stabilize somewhat at this level over the past few sessions, we’ve added a new Alternative Scenario to the chart, which considers a direct continuation of the sell-off below $44.12.
Primary Scenario
In the near term, our primary view calls for further (corrective) gains up to just below resistance at $78.48. At that point, the stock is likely to set its corrective high before entering another corrective phase. We expect this to eventually break below supports at $44.12 and $30.02.
Alternative Scenario
ADJUSTMENTS: Alternatively, the corrective advance may already be complete. In this case, we would expect a direct continuation of the decline, first moving below support at $44.12 (probability: 38%).
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.