EditSomeone tell me that this isn’t creating the most perfect inverse head and shoulders. Let’s see how it plays out, I could be wrong and things can happen and change the chart but looks so clear to me as it continues to progress
EDIT trade ideas
Edit short term taLooking for a retest of rising wedge. 47ish area
Resistance at 46.33 could flip to support.
Watching 1hr rsi like a hawk. Could turn into smaller head and shoulders pattern unless breaks rsi neckline and finds support above 47.
I feel it may come back down again and could bounce off 44.90 or double bottom at 44.40 area. Still looking at 43.70 as potential bounce but things can always change. I know that 44.25 was a key area in the past so could contiue to be a key bounce zone
Edit Looks like in inverse head and shoulders is paying out so far. Too soon to say
As of now we got a good bounce off of the kelpner channel lines at the bottom one. Usually this is a great buying zone. RSI is also back testing the breakout of the green line I have. It could still come down lower of course. If it falls below and closes below 43.92 the. The inverse will be canceled out.
Support 45.15
44.40
43.92
42.10
EditAnother thought is if we are going to create a cup and handle pattern here we could head down and create a handle
EditAlthough it looks be consildating ver nicely int a bull flag, momentum has slowed down a lot. It doesn’t have to play out like this but it is something I am keeping on my radar depending how this plays out. If we just contiue sideways this will be bullish also. We have run up quite a bit so we will see how everyrhinf plays out. It still looks like a strong uptrend so likely hood if it falling is more slim but keeping this idea on my mind
EditDon’t sleep on edit. It’s been running the
Game!
Looks like it’s trying to test the 49.19 resistance e level. Looking for a close above 48.23 at 1.30 I feel it’s a very important level to close a 4hr candle above. Let’s gooooo
Been long 84 shares since 43$
EditLooks to be in a rising channel or bull flag. Seeing how bullish this has been I am calling I a bull flag. I stayed long although I considered taking profits at 48 area, as I knew we needed a correction, we fell almost perfectly to my support area around 45.78. In very confident this is heading to try to breakout of long term falling channel. This target breakout of 53$ is 81$
For now the bull flag potential if closes and volume supported above 47.56 , is a target of 51.50$ !
Other wise a breakdown we still have stronf support at
45.78
45.15
44.20
And 43.92.
EditWe were making a cup and handle pattern yesterday looks like it’s trying to breakout from it. If we can get some closes above 44.20 today it will be looking bullish AF with a target of 52$. Although it could still be a trap depending on what the market does, the daily candle close will mean a lot today. Could be a bullish reversal setup
EditThis is the bull pennant I am watching. 44.20 is the breakout level we want to get an entry if hourly close above .
EditMan I love
This stock.
Having a great break of a big W pattern. Finding support with great volume above my support box. Watching for the volume at 11:30 next hourly close. Would like to see a close above 43.89 50 EMA on 1 he. I am long this but adding more to position if we can get this next candle close wirh volume. Keep an eye. RSI looking strong, flaggin out on smaller time frames. Breakout above top line marked is a great breakout
big stock, small bounce$EDIT pin action along this disjointed downward channel about to touch a decent support level to rest & bounce at the .618. I suspect it'll fail at .382 back down - barring good news or heavy risk on market participation. Possible cup & handle afterward and/or until more sector news, better earnings, or maybe until ARK dumps pallets of cash on it. If it gets chased back up in the near term, my bull thesis is 70,00 ~mid April. Cheers
Edit Having obvious massive correction. I played this from 27$ -73$. It’s a powerful stock and company with very very good fundamentals. A cure for childhood blindness. You can see the structure it is creating. A breakout of the 40$ level sent it hauling up 150%. It has been in a very massive falling wedge as it comes down to re test old long term resistance of 3 years strong. If in fact it wasn’t to have a resistance flip here, which I expect it will, I’m targeting around 40$ as the final place for a good bounce or consilidation proving that it is for sure now new found support. This is my veiw and I am buying the dips as we reach. Closer to my potential target. 42$ range as of now has been good support. Still expect a few dollar move lower
EDIT/CRSP accumulating 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.
Edit47.03 is the breakout of this big falling wedge with target of 63$ But main resistance above is 47.70
Edit 47.70 hourly close above with volume supported stoploss at 46.80. Exit some at 51.98. Long okay would
Be to 63$
I'm watching its daily price action now.Editas Medicine is a clinical-stage biotechnology company which is developing therapies based on CRISPR–Cas9 gene editing technology.
