Edit Keeping eyes on this beast this week. Seems to have formed either a bull pennant or symetrical triangle. Strong resiatnce formed at 70$ range. Haven’t been able to close a 4hour candle above 66.30. I’m looking to see if we can break bullish out of this I may make a trade but confirmation. Is needed. I’ll be watching and waiting for my entry with alerts set. Could be a crazy move. Old all time high was 100$ and this beast moves fast. Some warning signs could point for a drop but that’s why we wait for confirmation of a breakout ! Seems to have solid support around 61.50
EDIT trade ideas
EDIT Potential C&H FormingEDIT has been a growth name I've been watching for some time, came up right to my price target which I posted a few months back. I'm watching the 61.5 level as a strong resistance level, also the 272 Fib level. I'd like to see a break above to go long with a PT of 65.4, but it looks like a handle will come next as price retreated right from the resistance zone and formed a double top so far.
EDIT - another genomics name that looks ready All major gene editing stocks look like they're on the cusp of big moves higher. (See last post on NTLA)
Zoomed in on the shorter time frame we have a trigger off the 618 4hr retrace. There's some overhead supply in the 50s for shorter term targets, but this is a long term play with much higher upside.
Seeing similar in CRSP, but EDIT is showing a more significant breakout on the monthly time frame
Short term quick look at CRSP:
NTLA is the leader in the sector right now, but that could change fast. I am long all three
EDIT - inverted H&S (good risk/reward)EDIT broke out (up) of an inverted Head & Shoulders neckline @ 39.20 yesterday and looks to be firmly on the uptrend now.
A rise to it's H&S target of 49 looks plausible with stop loss about 50 cts below the neckline of 39.20
Let's see if it works out!
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
EDIT Dip BuyEDIT - Solid growth stock within the biotech industry recently beat down, currently off 62% from the highs. This one loves holding Fibs so if we see someone support at this 38 that would be a solid entry. Cathie also buying dips on this one, and with the market showing signs of strength, Huge R/R on this as Growth comes back - the company is a disruptor in the industry!
Entry at 37-39, PT 48.8, 54.7, SL under 37
EsitAfter further rejection of 49$ area I realized that although it was looking like we had broken the falling wedge and backtestinf it seems like it was just testing the top of the falling wedge only to have fallen back to the previous bottom so far making a higher low looks read to run back up only that this time the resistance is roughly 44.85. It’s going to be a tight trading range for EDIT until I finds a direction. Really a no trade zone until decision is made
I was looking for every bullish case and it all looked so freaking good but 49$ range was to big of a resistance