High Wave Candle on a Demand ZoneHere is SGMO on the weekly chart, last week price formed a high wave candle meaning indecision which can mean per text either continuation of bearish activity or possible price reversal. If the price goes below the low of the candle from last week that means continuation of bearish activity, if the price goes beyond the candle's high, a price reversal is likely; if price fluctuates between the high and low of last week candle then the asset is consolidating. We have a high wave candle on a demand zone and price currently forming below a FVG on top of a demand zone, per some technical analysis literature states that there may be price reversal in a few candles. Please see chart for key levels. Please be careful
0R1D trade ideas
500% gains SGMO BUY/HOLD swing trade setup🔸Hello traders, today let's review 3days price chart for SGMO.
Previously One of the titans of the biotech industry then fell out
of grace and dumped 95% off the highs from the prior distribution range.
🔸Currently decent recovery off the lows and also we got bullish
liquidity gaps protecting downside below 1.00 USD. currently trading
near 2.50 USD, however this is also heavy resistance so expecting
decent pullback to pickup liquidity below before the rally resumes.
🔸Recommended strategy bulls: Bulls wait for pullback to complete
near 1.00 USD. The target for the bulls is re-test of mid of the multiyear
distribution range at 5-6.00 USD, so this is 500-600% gains from the
recommended entry price at 1.00 USD. Keep in mind, this is a swing
trade setup also a 500%+ move in biotech industry may take a while
to complete, so this is a setup for patient BUY/HOLD traders.
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SGMO Last Correction before the rallyAfter Roche partnered with NASDAQ:SGMO for the Tau Alzheimer program ,
NASDAQ:BIIB was so in anger Sangamo didnt want to give them another chance ,
they dumped almost all their remaining NASDAQ:SGMO shares .
NASDAQ:BIIB dumped 11.4 M shares into OPEX week
Now the stock is going down.( Worse than expected earnings trigger )
There is a big buying opportunity around 0.60 $
Note: Goldman increased their positions 10X
SGMO: Caution AdvisedThe company we're looking at seems to be doing well, but let's not get too excited just yet. Here’s a simpler look at what’s happening:
What the Charts Say : The RSI, which is a fancy way of saying how fast the stock price is moving, is at 83. This is usually a sign that the stock price might go down soon. In the past, when this number got really high, the stock price often fell by half or even more. So, even though the company looks good, it might be a good time to sell some shares and make a profit.
What Might Happen Next : We're seeing some signs that tell us the stock price could drop a little, maybe to around $0.7, before it might go up again to somewhere between $2.5 and $3. But right now, the stock is very popular, maybe too popular, which can make it hard for its price to keep going up.
Being Careful: The charts also show that people are getting very excited about this stock, maybe too excited. It's important not to get too greedy and think you can make a lot of money without any risk. If the price goes down, remember, you can always buy the stock again later.
Patterns in the Price : The way the stock price has been moving looks like it might go down about 60% soon. But, there's also a pattern that suggests the price could go up to $3 by June if things in the economy get better.
Thinking About the Big Picture: It’s not just about the charts. We should also think about how the company is doing, like if it’s making money and how it stands compared to other companies. This helps us decide if it’s a good idea to invest in the stock.
What to Do:
With all this information, it might be smart to sell some of your shares now to avoid losing money later. But keep an eye on things because there could be a good chance to buy more shares at a lower price. Remember, it's important to not put all your eggs in one basket, which means don’t invest all your money in just this stock. And, always have a plan in case things don’t go as expected.
I'm not a financial advisor, so it's important to do your own research or consult a professional before making any investment decisions.
SGMO - long -catalyst playSangamo Therapeutics Inc is a clinical-stage biotechnology company that translates ground-breaking science into genomic therapies transforming patients' lives using platform technologies in genome editing, gene therapy, gene regulation and cell therapy. The company's product pipeline includes Hemophilia, Central Nervous System, HIV, Lysosomal Storage Disorders, and Hemoglobinopathies.
This is not a financial advice!
Upcoming catalyst on 31st. of March
Keep an eye on 0.65 , 1.10 and 1.70 levels- needs to get broken for a further upmove.
SL under 0.3
TP approx. 2.8
Most info on the chart.
Trade carefully!
Trading SGMO to $1.9Based on 7 Wall Street analysts offering 12 month price targets for Sangamo Biosciences in the last 3 months. The average price target is $8.20 with a high forecast of $16.00 and a low forecast of $1.50. The average price target represents a 443.05% change from the last price of $1.51.
ABC BullishSGMO has retested C and possible ready to move up.
Looks almost like a flag, but the flag is getting a bit heavy and is over 3 weeks in formation.
SGMO had a big move up, and I guess sometimes if you play, you pay in this market )o:
I thought there was a gap overhead, but there is a long wick on top of the green candle. I guess it depends on your definition of a gap.
Possible stop a few ticks below C.
Not a recommendation.
SGMO breakout repost from last fridayPay for your much needed therapy this week with your profits from a continuation on a SGMOtheraputics breakout. If you missed area of value as outlined by my post last friday we could still be in a good buy position for continuation of this breakout. Safe trading!
$SGMO confluence of support (a lot going on)$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%)
$SGMOEntry price : 15.02
Fundamentals :
- Sector: Medical - Biotech
- EPS % Chg (Last Qtr): 95%
- EPS % Chg (Previous Qtr): 1%
- 3 Year EPS Growth Rate: 0%
- EPS Est % Chg (Current Yr): 0%
- Sales % Chg (Last Qtr): 163%
- Sales % Chg (Previous Qtr): 23%
- 3-Year Sales Growth Rate: 54%
- Annual Pre -Tax Margin: -93.2%
$SGMO Sangamo therapeutics clean setupsupport held past few weeks around $15.70. declining volume on sell-off. owns many patents and has deals to bring many CRISPR style medications through development testing and sales. strong revenue growth in a growing and increasingly accepted medical field. potential breakout target of $29. Biotech stocks are high risk as they depend on experiment success or failure (and success or failure of the competitors). failure means the sales expectations get wiped out instantly and so does the stock price. positive results boost sales and the value of the stock reflects this with rapid and dramatic price increase (magnified by the significance of the medications/treatments to investors perception).