Pretty easy to see why you would be bullish here. Few things need to happen.
1) full candle break watch for a gap etc
2) needs to break horizontal SR at 81.50s (full candle above)
3) market needs to hold this in here if it were to somehow lose these yellow levels would be big downside imo.
Add alerts and keep this on a short timeline maybe literally one more day.
CRSP CRISPR Therapeutics 52 Week Range 77.42 - 220.20
Now the price is 80.08usd.
Bounced from its last support level.
Barclays has a price target o 148usd for it.
My price target by Q1 2022 is the 100usd resistance.
Looking forward to read your opinion about it.
CRSP is currently at key support and the 200 week moving average. This may be a possible bottom, however it is best to look for an entry on a lower time frame (4hr or 1hr chart) before entering. Bottoming patterns to look out for are inverted head and shoulders, double bottoms, and/or higher highs with higher lows.
Blue 12345 = wave 1 of Weekly
Green ABC = wave 2 of Weekly
This means we can prepare for Wave 3 of Weekly which should take us to retest the $220 high.
However, there's strong Supply Zone at $170-180 area. This area seems more likely to halt wave 3's move.
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
This is a daily chart of CRSP. As you can see, I marked the areas where high volume has occurred in the past. It's a little hard to see as I had to make the vertical lines almost transparent so you could see the candle and the volume I marked.
In every recent case a high volume daily candle has marked a trend change. This may not be the case now, but from the...
If anyone uses the same pattern of behavior it becomes easy to detect it. I remember the very first time I found similarities between Crisper and NASDAQ:TSLA Tesla, then similarities between NASDAQ:AQB and NASDAQ:BNGO . there are many different companies with the same price pattern and the missing part of the chain was always ARK invest..!
Look at Ford ...
I have published many short analyses on ARKK, and other funds managed by ARK Invest and Cathie Wood.
Some people may think I have personal problems with her or ARK Invest, but this is not true. I do research and analysis in the financial markets since 12 years ago. I started this when I was a 4th-grade medical student.
Since I was, and I am a bookworm, it...
It appears as though CRSP is potentially bottoming out and forming an Ascending Triangle pattern.
On the DMI there's been a bullish twist where I have placed the blue downward pointing finger.
On the KST there's been a bullish cross where I have placed the blue check mark and upon back-testing the red line we've seen a bullish bounce where another check mark.
Some key indicators are pointing to a possible short term bottom here for both CRSP and EDIT.
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.
This company had average 230k trading volume before Ark invest touched it. The very next day trading volume increased 49.5x to 11.39 million and price skyrocketed 36% in 2 days!
If you think they are longterm investor who invest in disrupting innovations, check what they did to AQB, OR CRSP..!
In this chart you see comparison between Tesla and Crisper. You may think comparing an automaker with a medical company is craziness! But you can not deny the the correlation you see in the charts, unless you have severe visual problem!
Question: why should an automaker and a medical company have the same pattern?
Answer: They both were ARK invest...
The stop-loss that I set for myself for the H&S invalidation play was absolutely obliterated today. We have broken below both the neckline of the head & shoulder and the support of the bullish channel. This puts the level of $84 to $110 absolutely in play.
Unless we are able to break back above the bullish channel and the neckline, the H&S pattern will complete...
Here is my follow up update on original CRSP swing short trade idea I put up on January 14th.
On this post, I am zooming out to weekly chart, looking at longer time frame to capture cyclical trends.
Going back all the way to 2017 inception period, the higher than average volatilities are pretty easy to notice. It moves up really fast but also coming down. Every...
Coming in as the 13th largest position in the ARKG ETF with a 2.68% weight (as of 02/18/2021), CRISPR Therapeutics AG is arguably one of Cathie Wood's favorite play in this space.
Since hitting the Highs of $220.20 on 01/15/2021, $CRSP has been on a steady decline to the lows of $142.15, forming a clear Head & Shoulder pattern on the daily chart in the process....