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In my previous post on #CRISPR I talked about the Green upward sloping trendline & how every time CRSPR has traded on or below it since May 2017 we've seen parabolic action.
I don't want to say I told you so, but we've seen some parabolic action.
To my surprise, the parabolic movement came the news of Vertex upfront payment of $175 million upfront payment....
With some investor conferences and earnings coming there is a good chance that CRSP can significantly pop up out of the channel again, or at least continue its upward trend.
I expect it to move into the new zone between $40.06 and $47.08 within a month and if it crosses over to remain above.
If it touches the ichimoku cloud I will back off as I can see it...
I view CRSP as one of the most interesting biotechnology stocks out there. DYOR. If it works, it will be huge. I am happy to see there will be opportunities to accumulate some stock, after I short it into my ideal entry levels.
$CRSP Crispr Therapeutics - big hammer candlestick today holding the lower limit of a bullish channel which began in January. Expecting continuation bounce in the very near term. See chart for two possible medium term targets by next earnings release in August.
Stop loss - $56.00
Note - Observation/opinion, not investment advice.