Fibonacci & regression - searching for the lowHaving the regression up and down crossing at the low I played with Fibo to look what could possible a match. Look at price rejection of the low from today. This might be the entrypoint for a good swing. However. putting Fibo on a double bottom gives a different view. Price could drop even more.
I hope for the up in the same angle as before for a new swing. And when things dont work out... well always a nice long position at a reasonable low for the next year(s).
CRSP/N trade ideas
$CRISPR Head & Shoulder and breach of the 100emaHello fellow traders. We are experiencing a respectable pullback on many names these past few days. CRISPR is one of them. This stock has actually been in correction for sometime now, which picked up pace after disappointing earnings last week. We may see more downside in the short term if the market continues the selloff but this company is definitely a buy in my opinion. They have very good prospects to become the main gene editing company in the business. I had actually been waiting for a dip to enter a position, which I did last Friday. I am adding more as it goes down. I am not expecting it to moon tomorrow (which it will not), but I think the correction on this one may be coming to an end sometime soon. Also, the fact that this is one of the top holdings of ARK investments gives me that extra reassurance to buy.
TECHNICALS
You can see that CRISPR formed a head and shoulder pattern and broke down a few days ago. Although the right shoulder is kind of malformed, there is enough symmetry between the top of the two shoulders for us to can consider this a head and shoulder. Today the price breached and closed below the 100ema, which hasn't happened since May 2020. We are now on support of the .618 fib level (AKA inverse Golden Ratio), which in theory is strong. If this support doesn't hold the next stop is most likely the 200ema, which at the time of this writing is very close to the .786 fib level. The price can obviously change directions anytime but many traders like you and me are looking at the same indicators so the 200ema is a good anchor point.
The RSI is about to cross to oversold level, a zone it hasn't been since March 2020. At that time it didn't stay in oversold for too long (about 4 days or so). Although past action doesn't indicate future behavior the quick reversal of the RSI direction is a good precedent if you want to buy in or already own the stock. Additionally you can see that the OBV isgetting close to the trendline support (yes, we can trace trendlines on the OBV too).
HOW TO TRADE
If you want to enter for the long term you can start dollar cost averaging (like I did) or wait for a clearer signal of reversal if you are more conservative. You may look for a bounce from either the fib levels or the emas as well as wait for a MACD bullish cross over. To me, anything between the 100ema and 200ema is a buy on this one.
Safe trades and good luck!
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***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
CRSP will it ever reverse!?! Starting to see some bullish divergence in the ChalkinOsc and MACD. It's been on a pretty big correction lately and these might be the signs that the sellers are losing steam. The 100 day is inside a low volume zone so if there is going to be a reversal I'd guess it needs to do around there. Under 140- looks very slippery.
CRSP is ready to fly Since CRSP all time high the stock has dropped 35%, now CRSP looks like its ready to take of an test new all time highs. RSI, MACD and Stochastic are indicting bullish behaviour. First target for CRSP is 182, second taget is 221 and 3rd target forming a new all time high is 265. In case bad news come out or the stock keeps showing bearish momentum it has a massive support at 148, this are has been tested several times and is a very strong support.
CRSPThere is a lot of disagreement between the Bulls and Bears. It formed a Megaphone.
Earnings missed badly.
H & S pattern confirmed - with a break of the neckline - Price Target $100
It has to break below the long-term uptrend line first.
Oscillators could turn up as it bounces off the long-term uptrend and resume to the ATH's.
A lot depends on the broader market which is also at an inflection point also and has to prove itself.
The trend is your friend.
CRSP 16-02-2021 LongAsset and Time frame -4H, CRSP
Entry Price -163.50
Exit(Stop Loss) -152.92
Exit(Take Profit) -216.63
Technical Analysis -I'm jumping the gun on this one, it's always better to wait for a candle to close and then enter the trade, but the risk to reward here is great, and I'm not afraid of the price going against me on the pre-market by 6% and go beneath my stop loss, from a technical standpoint, the price has been going sideways for a reasonable amount of time, with some big spikes in volume, on the 4H chart we have a piercing line pattern, on the daily chart we have a small bullish hammer, if you want a safer way to enter the trade, wait for the candle to close bullish
I would like to hear your opinions and what can I do to improve, many thanks
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.
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.
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 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.