ETrades1

$SGMO confluence of support (a lot going on)

Long
NASDAQ:SGMO   Sangamo Therapeutics, Inc.
$SGMO has been correcting its 100% surge higher, I believe I have found enough evidence to suggest the $SGMO pullback has completed and represents a great buy opportunity:

1) +1 year long resistance is acting as support
2) reclaiming of the aVWAP from the bottom for the first time in 8 days
3) holding the 50 day EMA
4) consolidation occurring at the 50% retracement
5) price low of $13.48, AB = CD from peak terminates at $13.46

This idea reminds me of the technical situation of $OTRK (formerly known as $CATS) which I've linked below. The combination was a nearly straight line move higher off the bottom followed by a pullback into the long term resistance (now support), a key moving average (200 EMA) and a key fib retracement (61.8%)